The sports and entertainment group that owns the Philadelphia 76ers and New Jersey Devils has notified salaried, full-time employees they will be subject to temporary pay cuts of up to 20% and will be moving to a four-day work week as a result of the ongoing fallout from the coronavirus pandemic.
The pay cuts will begin as soon as next month and will affect full-time employees who make $50,000 or more and will go as high as 20% for those making $70,000 or more, sources told ESPN. The teams are expected to ask contracted front-office employees to take similar cuts, sources said.
News of the pay cuts for the Josh Harris-owned group was first reported by The New York Times.
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