NBA commissioner David Stern and deputy commissioner Adam Silver will match wits with union chief Billy Hunter and president Derek Fisher of the Lakers on Thursday in the first significant bargaining session in labor talks.

"The smaller meetings allow us to get more accomplished," Fisher told Ken Berger of CBS Sports. "We're going to be hard at work on this between now and All-Star weekend, that's for sure."

A pivotal meeting will be held in Los Angeles during All-Star weekend.

Thursday's meeting will be the first session involving Stern, Silver and Hunter since Stern dropped his bombshell after last month's Board of Governors meeting that owners are seeking a $750 million to $800 million reduction in player salaries.