U S Olympic Committee cuts 15% jobs

Responding to the economic downturn, the U.S. Olympic Committee will reduce its 2009 budget by about 5 percent with part of the savings coming from personnel reductions of 10-15 percent. The decision was made at the organization's quarterly board of directors meeting in Washington. The USOC has 425 employees, 330 of them at its headquarters in Colorado Springs. Cuts of $7.1 million will leave a budget for the year of $135.5 million.