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USA Track and Field lays off seven and CEO takes a 20% pay cut
USA Track and Field has laid off seven people from its 65-person staff and CEO Max Siegel is taking a 20% pay cut to offset lost revenue due to the coronavirus pandemic.
The organization that runs the country’s largest summer sport has been forced to cancel dozens of events, including the Olympic trials, which were scheduled for June. In 2016, trials produced around $5 million in revenue. They will be rescheduled to mesh with the Olympics, which have been pushed into 2021.
Sports Business Daily reported that all the cuts came in divisions that support the 8,000 live events the USATF sanctions.
(04/19/2020) Views: 1,663 ⚡AMP
