POSTED: Wednesday March 18th 2009
FOR IMMEDIATE RELEASE

United States Olympic Committee Begins Reducing 2009 Operating Budget

Budget Reductions Include the Elimination of 54 Staff Positions

COLORADO SPRINGS, Colo. - The United States Olympic Committee (USOC) began implementing today a series of measures that will reduce the organization\‘s 2009 Operating Budget by $7.1 million, from $142.6 million to $135.5 million.   

The reductions are necessary not only to weather the current economic downturn, but to make certain the USOC has in place the organizational structure and resources necessary to continue fulfilling its core mission throughout the 2009-2012 quadrennium.  The reductions represent more than 10 percent of the USOC Operating Budget that is not allocated to direct financial support for athletes and National Governing Bodies. 

Among the measures being implemented is the elimination of 54 positions within the USOC professional staff (13 percent of the USOC workforce).  The position eliminations, which are effective immediately, impact almost every level of the organization, including the senior-most level of 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 (note: hourly wage earners will remain eligible for merit increases). 
  
• A reduction and, in some cases, elimination of programming that is not core to the USOC\‘s mission of providing support for athletes and National Governing Bodies. 
  
• Strict limitations on administrative and discretionary expenses related to travel, meetings and events. 

For those employees whose positions are being eliminated, the USOC is providing a severance package (as determined by length of service with the organization), a matching contribution for health insurance coverage through the Federal COBRA program, and outplacement and job search assistance through Lee Hecht Harrison. 

The reduction in force will impact USOC operations in Colorado Springs, Colo.; Lake Placid, N.Y.; and Chula Vista, Calif. 

Two areas in which the organization\‘s 2009 Operating Budget will not be impacted are the direct financial support provided by the USOC to athletes and National Governing Bodies, which in 2009 is $56 million, and the USOC\‘s ongoing support for Chicago 2016. 

For more information, please contact the USOC Communications Division at (719) 866-4529.

# # #

Keywords · USOC

Name: Usoc Media
Organization: USOC
Email:
Phone: +1.719.866.2206

Please refer all questions to the company listed above issuing the press release. SFC will not be able to assist you with any inquiries and disclaims any content in these press releases.