USA Cycling Chairman and CEO Rob DeMartini announced Friday that the governing body has made the difficult but necessary decision to reduce its staff by 15% and furlough another 25% in anticipation of a 30% revenue decline due to the Covid 19 coronavirus pandemic.

"As of today, we have reduced our staff by 15% and furloughed another 25% for two to six months," a statement from DeMartini said.3]

"The remaining members of our organization are here to help get us through these difficult times and to serve cycling in America. We are stepping up to continue to support our mission."

A statement from DeMartini read.

DeMartini did not say which of his 70 current employees would be affected by the layoffs and furloughs, but told the Sports Business Journal that affected employees will receive health insurance coverage for 90 days.

USA Cycling's 2018 revenue was $14.9 million, with about two-thirds coming from memberships, sanctioning, camps, and clinics. The report; Form 990 and 2018 year-end financial statements are available on USA Cycling's website.

In a press release, DeMartini said that the budget set for 2020 approved by the board could not have anticipated reality amid the coronavirus pandemic; USA Cycling has cancelled or postponed all events through May 3, and in addition extension, and expects 775 events to be affected.

Furthermore, the postponement of the Tokyo Olympics has further reduced planned sponsorship budgets.

All combined, USA Cycling expects a revenue shortfall of over 30% for 2020.

"Thank you for your membership in our community and your support of USA Cycling, and I assure you that we have an unwavering commitment to contribute to the sport at all levels," said DeMartini. 'We will emerge stronger from these difficult times.'

USA Cycling remains committed to the following services: