Cycling’s governing body has furloughed staff and cut leaders’ salaries because of the coronavirus pandemic.
The International Cycling Union (UCI) blamed the postponement of the Olympics and Paralympics, plus losing much of its annual calendar, for the move.
UCI president David Lappartient said: “Our international federation is going through a crisis without precedent since the Second World War.
“We have taken drastic action to enable it to weather the storm.”
The cuts include full or partial furlough for UCI’s 130 employees, while senior leaders will take pay cuts.
The UCI has also said it will revise all projects and “resize” grants to national cycling federations, adding that 30% of its cycling calendar has been lost.
The Giro D’Italia has already been called off, along with the ‘monument’ one-day races Milan-San Remo, Tour of Flanders and Paris-Roubaix.
Tour de France organisers ASO are yet to call off cycling’s biggest event and, for the moment, the Road World Championships remain scheduled at the end of September in Switzerland.