USOC lays off 54 employees to cut costs 19/03/2009 |
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The United States Olympic Committee (USOC) has laid off 54 employees in an effort to reduce its operating budget in the current tough economic climate.
The USOC said in a statement it hoped a series of belt-tightening measures would trim $7.1 million from its 2009 operating budget, dropping it to $135.5 million from $142.6 million.
The 54 job losses, which represent 13 percent of the USOC's workforce, will be spread across the organization, including the most senior level of management.
The USOC said other money-saving measures included a freeze on management salaries and the elimination of 11 additional positions that were in the operating budget but not yet filled.
Two areas in which the USOC's budget will not be impacted are direct financial support to athletes and national governing bodies, and support for Chicago's bid to host the 2016 Summer Olympics.
(Source: Reuters)
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