Monday, October 13, 2008

NBA To Cut 80 Jobs

As the economy continues to struggle, moves like this one by the NBA may become somewhat of a norm. It will also be interesting to see how individual teams are affected as well.

LONDON -- The NBA is laying off 9 percent of its work force over worries about the U.S. economy, commissioner David Stern said.

"We made a decision some months ago that the economy was going to be a bit wobbly, so we began a belt-tightening that will result in a work-force reduction of about 9 percent domestically," Stern said Sunday, speaking before an NBA preseason game at London's O2 arena.

This translates into about 80 jobs, he later told Reuters.

"There is a season-ticket renewal rate decline, and new sales are also being hit," he said. "My guess is when [the regular season] kicks off, we will be down modestly in season ticket sales."

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