Olympics: USOC to tighten belt, cut staff up to 15 percent
Associated Press
The U.S. Olympic Committee will reduce its work force by 10 percent to 15 percent in the upcoming months as it retrenches to deal with the economic crisis.
The numbers were announced Tuesday at a USOC board meeting in Washington. Chief executive officer Jim Scherr said the USOC hopes to save $7.1 million in its 2009 operating budget with reductions in administrative expenses, programming and personnel. The federation will take the next four weeks to determine where to make staffing cuts.
The USOC employs about 425 people, most working out of its offices in Colorado Springs, Colo.
With less than a year to go before the Winter Olympics, Scherr said there would be no reduction in funding for the individual sports. That budget stands at about $50 million.