NBA lays off over 100 league employees

While locked out players consider their options overseas, the NBA on Thursday laid off over 100 of its employees in New York-based offices.

A person with knowledge of the situation told Newsday that the layoffs were not sudden, but something that had been in the works as far back as a month ago, before the lockout began.

NBA spokesman Michael Bass said, "The layoffs are not a direct result of the lockout, but rather a response to the same underlying issue; that is, the league's expenses far outpace our revenues. The roughly 11 percent reduction in headcount from the league office is part of larger cost-cutting measures to reduce our costs by $50 million across all areas of our business."

The league has been in a lockout since July 1 and it hasn't met with the players' union since June 30.