Yankees continuing to pay staffers in full, with benefits
Hal Steinbrenner, principal owner of the Yankees, talks with reporters during MLB baseball owners meetings, Wednesday, Feb. 5, 2020, in Orlando, Fla. Credit: AP/John Raoux
The Yankees continue to lose money – as every Major League Baseball club is – during the COVID-19 pandemic that has seen the sport shut down since March 12.
But so far the Yankees have not taken any of the steps some others have to mitigate those losses – slashing salaries and benefits and/or instituting furloughs.
So far.
In an email sent to Yankees employees Monday, staffers were told they would continue to be paid their salaries in full, with benefits.
“As you likely have heard, Clubs throughout the League have been handling this crisis in a number of ways, including partial or full furloughs and tiered pay cuts broadly impacting entire workforces,” read part of the email, which was sent on behalf of managing general partner Hal Steinbrenner. “While I understand those decisions, at this point in time, I have not elected to take such widespread actions.”
The email did not say for how much longer that will be the case and team employees, obviously, are hopeful that it becomes a moot point with news breaking Wednesday that MLB and the Players Association perhaps are closing in on a deal to resume the season.
When it became apparent by mid-April that there was no chance of there being a 162-game regular season, or anything close to it, commissioner Rob Manfred told clubs that, effective May 1, he would be suspending Uniform Employee Contracts. The move would enable teams, should they so choose, to take a variety of steps in order to cut costs, such as furloughs and/or salary reductions.
The Yankees committed early on to paying employees in full through June 1 and by the end of May had extended that commitment to June 15. The date coincided with Monday when employees received the aforementioned email updating them on their situations, which remain fluid.
“We have been constantly evaluating the current situation, including the continuing COVID-19 national health emergency, the delay in the start of the 2020 MLB season, and the resulting unprecedented financial impact both are having on the organization,” another part of the email read. “It is a difficult analysis involving many factors, and there is no perfect answer.”
