The LeBron James Family Foundation will produce its annual King for Kids Bikeathon in June with consultants instead of staff to lower administrative costs.
"It was a tough decision, but I'm going to continue to be as active as I am," James told The Associated Press on Tuesday. "We just want to try to focus on a few things and put everything into them."
James said the foundation is essentially being streamlined to make better use of money.
The Cleveland Plain Dealer was the first to report the cuts.
The foundation's Web site lists a staff of six, including Jakki Nance, who became executive director in late 2007. A phone message left for Nance was not immediately returned.
Details on whether the foundation will exist only as a board of directors or what role Nance may retain were vague.
This year's bikeathon raised $50,000 each for the Akron Area YMCA, the Akron Urban League and the foundation itself.