NHL Temporarily Cutting League Employee Pay By 25 Percent
After the Philadelphia 76ers and New Jersey Devils announced they'd be temporarily cutting employee pay by 20 percent in wake of coronavirus concerns, the NHL league office is going through similar provisions. Emily Kaplan of ESPN reports:
Just filed to ESPN: the NHL is temporarily cutting league office employees salaries by 25%.
— Emily Kaplan (@emilymkaplan) March 24, 2020
According to sources, the NHL is hoping that the temporary pay cut among league office employees will prevent them from making any layoffs during this uncertain time.
Across industries, workers and business are feeling the pinch of this once-in-a-century scenario. It's hard to sit here and gauge what the optimal thing that should be done is, whether that is furloughs or temporary cuts like this, and how the burdens should be proportioned between organizations and employees. If it does save ultimate job losses that's great, but it still seems like there must be a better way for billion dollar businesses to handle these fraught times.