OSU Athletics Implements Layoffs, Pay Cuts as It Trims Budget
OSU has slashed its current year athletics budget with layoffs, pay cuts and furloughs.
Combined with a hiring freeze on nine positions and previous cuts, the moves announced Wednesday trimmed $13 million from the athletics budget.
Ten employees were laid off Wednesday, while 66 will start furloughs next week. Another 151 are taking pay cuts of 2.5% to 25%.
OSU Athletics Director Mike Holder said 16 of 25 employees under contracts agreed to voluntary pay cuts, including all head coaches and himself.
"These cuts were painful and not at all based on performance," Holder said in a statement. "They are byproducts of the unfortunate situation in which we find ourselves. I am especially thankful for the coaches that had the protection of a multi-year contract, but still volunteered to participate in the pay reductions."
Holder said the department still has an estimated budget deficit of $30 million.