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The National Football League has offered voluntary buyouts to at least 200 employees as it prepares for the start of the playoffs this coming weekend, according to a report obtained by CNBC.
The NFL, which has about 1,100 employees, told employees it is “constantly evaluating ways to increase efficiency and improve results,” according to the memo.
“Every organization is increasingly challenged to be agile, accountable and strategic. The NFL is no exception,” the memo reads.
The buyouts come as the league demonstrates financial strength, with 2022 revenue expected to reach nearly $12 billion. Commissioner Roger Goodell has set a goal of reaching $25 billion in annual revenue by 2027. Teams are also valued at a high level. In July, NFL owners approved the sale of the Washington Commanders, a franchise that hasn’t won a Super Bowl in more than three decades for a record $6 billion.
The league sent buyout notices to employees age 50 and older who qualified based on years of service in the league office. It was not immediately clear how many buyouts the NFL is targeting.
The league offered eligible employees three weeks of pay for each year of service, in addition to bonuses. Employees will have until the end of February to decide whether to accept the buyout.
The NFL said its strategy going forward includes international expansion, the growth of flag football and the continued development of media and digital operations.
“How we operate, where we invest our capital and workforce must evolve to align with these strategic priorities to best position the league for continued success,” the report said.
In May, NFL Network laid off about 5% of its workforce.
News of the buyouts was first reported by the Sports Business Journal.