Philadelphia 76ers and New Jersey Devils owner Josh Harris changed course on a plan for a 20% reduction on employee salaries, calling it a mistake and apologizing to staff and fans.
In the face of a tenacious public backlash — and pushback within his own organizations — ownership gathered on a conference call Tuesday afternoon and relented on a plan to require at-will employees making more than $50,000 a year from getting pay reductions.
In these trying times, I’m proud of the Sixers organization for reversing course and “doing a 180”. Let’s focus on beating this Coronavirus now. Let’s be responsible and Trust the Process!!
— Joel “Do a 180” Embiid??? (@JoelEmbiid) March 24, 2020
Owners and players share in the financial success and downturns of revenue, but contracts are safeguards for employees who don’t get to share in the financial upside of plentiful times.
Several Sixers and Devils executives — including GM Elton Brand — did agree to the 20% percent salary reductions.