The New Jersey Devils and Philadelphia 76ers have done an about-face on cutting salaries for employees making more than $100,000. A day after announcing the temporary 20% pay cuts because of the economics effects of the coronavirus pandemic, the teams' co-owners rescinded them.
Co-owner Josh Harris says after listening to his staff and players, it’s clear that the pay cuts was the wrong decision.
“This is an extraordinary time in our world — unlike any most of us have ever lived through before — and ordinary business decisions are not enough to meet the moment. To our staff and fans, I apologize for getting this wrong.”
The teams did not say whether they plan to maintain a four-day work week, which was part of the cuts. Employees benefits were never changed and the teams plan on keeping their 1,500 hourly workers paid throughout the regular season. The NHL's Devils and the NBA's Sixers are owned by Harris and David Blitzer, who are the founders of Harris Blitzer Sports and Entertainment.
