Owners of 76ers and Devils cancel plans for salary reductions to help employees
25 Mar, 2020 03:26
Josh Harris, the billionaire co-owner of the N.B.A.’s Philadelphia 76ers and the N.H.L.’s New Jersey Devils, has canceled plans to impose temporary salary reductions of up to 20 percent upon full-time employees from both teams who earn at least $50,000.
“After listening to our staff and players, it’s clear that was the wrong decision,” Harris said in a statement. “We have reversed it and will be paying these employees their full salaries. 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.”