Re: 76ers Institute 15 Percent Reduction In Salary Of Empoyees

[RealGM Wiretap]

The Philadelphia 76ers have instituted a temporary salary reduction of up to 20 percent for at-will employees making more than $50,000 starting on April 15th through the end of June. The 76ers are owned by Harris Blitzer Sports & Entertainment, which also owns the New Jersey Devils of the NHL. Employees of the Devils are also being required to take a pay reduction.

Employees on contracts, such as members of the coaching staff and front office, have also been asked to participate in the program but cannot be forced to do so.

The 76ers are instituting the measure in hopes of avoiding layoffs.

Elton Brand has agreed to participate in the program, which is also being applied to the Devils.

Via Marc Stein/New York Times

[kenwood3333]

But not the players.

It takes 20% salary reduction of 100 employees making 50k to save 1 million.

To pay Tobias Harris's 32 million salary this year, how many employees need to take a pay cut or lose their job?

[Schad]

But not the players.

It takes 20% salary reduction of 100 employees making 50k to save 1 million.

To pay Tobias Harris's 32 million salary this year, how many employees need to take a pay cut or lose their job?

Players can donate money, but cannot take voluntary pay cuts under the CBA.

[Vegeta10176]

They are not cutting their health benefits but the fact that they could cut their health benefits at this time and many employers will shows that the system as currently constructed clearly does not work as GM workers who were striking found out when the employer simply cuts your health benefits which they can do at anytime.. The system is insane..

[Cassius]

But not the players.

It takes 20% salary reduction of 100 employees making 50k to save 1 million.

To pay Tobias Harris's 32 million salary this year, how many employees need to take a pay cut or lose their job?

Players can donate money, but cannot take voluntary pay cuts under the CBA.

I think it's less the players and more the senior management. I'm sure Brand is making a couple million himself, then Coach Brown and some others. $50,000 is a pretty low threshold. Even 100K would help a lot of people who aren't necessarily stable.

[12footrim]

But not the players.

It takes 20% salary reduction of 100 employees making 50k to save 1 million.

To pay Tobias Harris's 32 million salary this year, how many employees need to take a pay cut or lose their job?

Players can donate money, but cannot take voluntary pay cuts under the CBA.

I thought it was all tied to the budget numbers that came in. So if the NBA is losing money the players salaries are adjusted accordingly as they should be. I'm also pretty sure you can take a "paycut" Ryan Anderson just walked away from a lot of money it's just called a buyout. I'm sure they could restructure contracts as well.