Oklahoma State’s athletics department has taken massive financial hits due to the COVID-19 pandemic.
On Wednesday, athletics director Mike Holder announced major pay cuts throughout the department.
The decision leaves nine positions open this year and it will remove about $13 million from the 2020-21 budget.
The cutbacks will impact most all employees in the department (232 of the 241). This includes every head coach and athletic director Mike Holder.
“These cuts were painful and not at all based on performance,” Holder said in a press release. “They are byproducts of the unfortunate situation in which we find ourselves. I am especially thankful for the coaches that had the protection of a multi-year contract, but still volunteered to participate in the pay reductions.”
10 employees were laid off Wednesday and 66 will be furloughed on Sept. 16.
Beginning in September, 151 employees will have reduced salaries. The reductions will vary between 2.5% and 25%. The highest paid employees in the athletics department will take reductions first.
“These cuts don’t solve the problem,” Holder said. “ We are still facing a budget deficit estimated to be around $30 million, which may require additional measures in the coming months. However, we exist to serve our student-athletes,” Holder said. “Their academics, health, safety, and their ability to compete remain our top priorities and will not be compromised.”