USOC cuts budget, 54 jobs

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The United States Olympic Committee has begun reducing its 2009 operating budget by $7.1 million, which will mean the elimination of 54 jobs.

Officials say the budget reduction – from $142.6 million to $135.5 million – is necessary because of the economic downturn.

The reductions represent more than 10 percent budget that is not allocated to support athletes and National Governing Bodies.

The job eliminations, which are effective immediately, include senior-most level management.

Other measures being implemented by the USOC include:

An elimination of 11 additional positions that were in the 2009 Operating Budget but not yet filled.

A reorganization of certain divisions within the USOC to create greater operational efficiencies and avoid duplication.

A freeze in management salaries for 2009. Hourly wage earners will remain eligible for merit increases.

Laid-off employees will be given severance packages determined by their length of service.