ITF Announces Salary Cuts, Staff Furloughs to face Economic Challenges of Pandemic

The International Tennis Federation (ITF) has announced that it is implementing a range of measures to protect jobs and the long-term health of the organization and the sport due to the effects of the COVID-19 pandemic.

The measures include President David Haggerty voluntarily taking a 30% salary cut for the rest of the year, salary reductions for other executives, the postponement of 900 tournaments and furloughing approximately half its staff.

In its statement, the ITF has said, "We have postponed more than 900 tournaments across all ITF circuits, including the Fed Cup by BNP Paribas Finals 2020, and it remains uncertain when play can resume. While postponing events and prioritising safety is the appropriate response in these exceptional circumstances, it has resulted in a number of complex challenges, including a significant loss of income. In order to safeguard jobs and protect the long-term health of our organisation and our sport, the ITF is implementing a series of measures, effective from today, which include savings on projects, a job protection scheme for employees and the utilisation of funds from ITF reserves. The job protection scheme includes a furlough for approximately half of ITF staff. The remaining staff will continue to work to sustain business critical services and essential platforms with a 10% reduction in salary. The Senior Leadership Team has taken a 20% reduction in salary, while the ITF President has voluntarily taken a 30% decrease for the year."

The ITF said it is also in discussions with other stakeholders on "various options to support nations and players during these times and will provide more information when we have completed that process."

ITF President David Haggerty said: “The situation we are facing represents a fundamental challenge to our organisation and our sport. Our purpose is to ensure the long-term growth and sustainability of our sport in collaboration with our 210 member nations, which is why we are making difficult decisions in the short term so that we can continue to deliver tennis for future generations across the globe.”

from Tennis World USA https://ift.tt/2xr54Z1