Sports Business : United World Wrestling’s staff given 50% salary cuts

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The Covid19 repercussions have caught up with the global body for the sport of wrestling. The United World Wrestling (UWW), In response to the COVID-19 pandemic has decided to cut 50% salary of all its in-house staff. 
In an statement UWW has said that they have reviewed its activities and has evaluated its finances. In terms of cost reduction, all staff based in Corsier-sur-Vevey, the place where UWW headquarters are, have had their salary reduced by 50%, while external staff have received a reduction in monthly service fees and scope of work. These adjustments are made until further notice.
UWW further said in its statement that, the global health and financial impact of COVID-19 cannot be overstated. From the postponement of the 2020 Olympic Games to the cancellation of domestic and international tournaments, the sports world has felt the pain of this virus/outbreak. Even as we assess the rest of the 2020 calendar there is uncertainty around the return to competition.

Because of the unknown, UWW has also developed a strategy to safeguard the long-term health of the sport and the organization.

“To ensure that we stay in touch with our partners, the UWW Development team has launched a webinar series to keep up with the concerns of our national federations, athletes and other key stakeholders. The aim is to initiate and sustain open conversation with these groups so we can regularly and effectively address their concerns”, said UWW in its official statement. 

The world body is debuting a series of Webinars for direct communication with the national federations and stakeholders. UWW further said that they remain committed to supporting its athletes and wrestling family through these challenging times and will continue to find new and innovative ways to connect.