Texas Tech athletic department announces significant job, salary cuts after budget shortage
The Red Raider athletic department will eliminate 40 jobs at the end of September.
By Chuck Carlton
8:39 PM on Aug 31, 2020 CDT
Facing a projected athletic department budget shortfall of $25 million because of COVID-19, Texas Tech announced significant job and salary cuts Monday night.
Tech will eliminate 40 athletic department jobs effective Sept. 30. The salary reductions will include all employees earning at least $30,000 per year with progressive decreases ranging from 3% to 14% based on compensation.
The moves are expected to save about $4.49 million over upcoming fiscal year, Tech said.
Tech had previously reduced budgets for its individual athletic programs earlier this summer.
Like other schools in the Big 12 and Texas, Tech is looking at reduced football seating capacity of 25% at Jones AT&T Stadium to open the season.
“Today was an extremely difficult and challenging day for Texas Tech Athletics,” athletic director Kirby Hocutt said in a statement.
“COVID-19 has had a major financial impact on our athletics department, and it was necessary to make these very difficult decisions. We will continue to support our student-athletes and each other as we move forward.”
The Red Raider athletic department will eliminate 40 jobs at the end of September.
By Chuck Carlton
8:39 PM on Aug 31, 2020 CDT
Facing a projected athletic department budget shortfall of $25 million because of COVID-19, Texas Tech announced significant job and salary cuts Monday night.
Tech will eliminate 40 athletic department jobs effective Sept. 30. The salary reductions will include all employees earning at least $30,000 per year with progressive decreases ranging from 3% to 14% based on compensation.
The moves are expected to save about $4.49 million over upcoming fiscal year, Tech said.
Tech had previously reduced budgets for its individual athletic programs earlier this summer.
Like other schools in the Big 12 and Texas, Tech is looking at reduced football seating capacity of 25% at Jones AT&T Stadium to open the season.
“Today was an extremely difficult and challenging day for Texas Tech Athletics,” athletic director Kirby Hocutt said in a statement.
“COVID-19 has had a major financial impact on our athletics department, and it was necessary to make these very difficult decisions. We will continue to support our student-athletes and each other as we move forward.”
Texas Tech athletic department announces significant job, salary cuts after budget shortage
Facing a projected athletic department budget shortfall of $25 million because of COVID-19, Texas Tech announced significant job and salary cuts Monday night....
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