April 23 (Reuters) - The PGA Tour eliminated 4% of its workforce on Thursday as part of a restructuring process.
According to numbers confirmed by the PGA Tour, 56 of the U.S.-based circuit's full-time employees were laid off while another 73 open positions will not be filled as part of its transition to a for-profit model.
The affected employees were notified by senior team leaders, while PGA Tour CEO Brian Rolapp sent a memo to the entire staff to explain the organisational recommendations that came out of a review by a third-party consulting firm.
In January 2024, the PGA Tour announced it had reached an agreement with Strategic Sports Group in which the consortium of U.S. sports team owners would invest up to $3 billion into a new for-profit entity known as PGA Tour Enterprises.
SSG invested an initial $1.5 billion as part of the agreement that also allowed for a co-investment from Saudi Arabia's Public Investment Fund, which controls LIV Golf.
Talks between the PGA Tour and PIF, however, have gone silent since the two sides last met with President Donald Trump at the White House in February 2025.
Last week Saudi Arabia's sovereign wealth fundannounced a plan to focus investments on the country's economy across six key themes under a new five-year strategy, deploying more money domestically in its latest effort to diversify its reliance on oil.
(Reporting by Frank Pingue in TorontoEditing by Christian Radnedge)
