As the coronavirus crisis continues to rage, certain members of the Philadelphia 76ers organization will start to feel the economic effects of the outbreak.
Per Marc Stein of The New York Times, at-will employees of both the Sixers and the NHL’s New Jersey Devils (both owned by Joshua Harris) that make more than $50,000 will be subject to temporary salary reductions of up to 20 percent, starting April 15 and continuing through the end of June.
The economic impacts of the outbreak became inevitable as the crisis deepened, and athletes across the sports world have rallied to help some of those affected.
Sixers and Devils at-will employees were informed today that temporary salary reductions of up to 20 percent will be instituted for employees making more than $50,000 starting April 15 through the end of June, @NYTSports has learned
— Marc Stein (@TheSteinLine) March 23, 2020
Stein also notes that contracted employees, like members of the coaching staff and front office, have been asked to participate in the program but cannot be forced. According to Stein, Sixers general manager Elton Brand, team president Chris Heck, and Blitzer Sports and Entertainment CEO Scott O’Neil have agreed to participate.
A source told Stein that the move was made in hopes of avoiding layoffs and that no changes were made to 401k or health benefits.
Honestly, this isn’t the greatest look for Harris, but hopefully, the move will prevent the necessity of more drastic measures. On the bright side, it’s nice that Brand, Heck, and O’Neil voluntarily participated. [lawrence-related id=28082,28024]