Money Woes Plague NBA As League Lays Off 114 Employees
The NBA laid off 114 people this week in a cost-cutting move it says was unrelated to the lockout. Sort of.
According to league spokesman Mike Bass, "The layoffs are not a direct result of the lockout but rather a response to the same underlying issue — that is, the league’s expenses far outpace our revenues."
With the NBA claiming annual losses of $300 million, it's unclear if more pink slips are coming.
Thursday's announcement was just the latest measure in a series of cutbacks the league has initiated over the last two-and-a-half years. The New York Times reports the league has eliminated as many as 275 positions at the team and league level since October 2008, while also scaling back its presence overseas.
The owners and union have not participated in bargaining negotiations since the lockout began July 1.