The NBA went woke a few years ago, embracing Black Lives Matter following the death of George Floyd.
Now that might be catching up with them.
Despite Janet Yellen’s recent claim that the United States is doing great economically, the NBA is freezing all new spending and hiring and blaming the economy for the decision.
OutKick reports:
GO WOKE, GO BROKE? NBA BLAMES HARSH ECONOMY FOR CUTTING SPENDING, LIMITING HIRING
The NBA might be bracing for some financial troubles.
NBA officials instructed league office staff to cut spending and limit hiring due to “economic headwinds” for the rest of the year, according to a memo from executives Kyle Cavanaugh and David Haber obtained by the New York Times.
The memo claims the NBA is “facing a very different economic reality than just one year ago. We are seeing significant challenges to achieving our revenue budget with additional downside risk still in front of us.”
The NBA previously laid people off in 2020 due to the coronavirus pandemic, according to the same report, but the reasons for this belt tightening have much more to do with the economy teetering on a recession.
The NBA is far from alone. Many major organizations have had to cut costs and fears ripple through the economy. Disney slashed positions, ESPN is reportedly going to cut positions left and right, the tech industry has also been hit hard and news companies such as CNN and the Washington Post are also trimming up.
Is the economy the only problem here, or are there other factors at play?
The NBA is freezing hiring and preparing for layoffs according to @nytimes. The league cites the challenging economy as the culprit. https://t.co/mmWmxj5GXt
— Clay Travis (@ClayTravis) April 12, 2023
NBA just announced it’s cutting staff due to “economic headwinds.”
In other words going woke hasn’t helped the bottom line.https://t.co/QWhusBQwI7
— Paul A. Szypula (@Bubblebathgirl) April 12, 2023
Just wait until this starts affecting player paychecks.
The NBA might want to refocus on just playing basketball and drop all the social justice activism.
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