New York: National Football League, one of the America’s most successful sports leagues that is known for player contracts worth billions of dollars, has also resorted to layoffs in its bid to cut costs, a report said.
The league’s commissioner Roger Goodell has announced that he would be cutting 14% of its staff, accounting for 150 jobs, to help cut its costs by about $50 million, The Wall Street Journal reported.
The job cuts, to be implemented over the next two months, are said to be in places such as New York, New Jersey and Los Angeles, but would not affect the individual teams controlled by various clubs.
Earlier this year, US business magazine Forbes named NFL as the richest and “the strongest sport in the world.” The publication said that the net worth of an NFL team on an average has crossed $1 billion, making them the first ever sports league to surpass that mark.
Thousands of jobs are being axed almost daily in the wake of a deepening economic crisis across the world. Beginning with banks and financial services firms, the job cuts have spread to other services and manufacturing sectors.
The earnings of sports leagues are also said to be hit by the crisis, as the companies are cutting down their advertising expense, among other factors.