» Jay Walder

February 23, 2010

Yesterday the NYC MTA announced that it was going to cut 1,000 jobs as an effort to manage a huge revenue shortfall. In December, the shortfall was estimated at $400 million. A few days ago, MTA Chairman reported that the deficit is now about $800 million.

Where are these job cuts coming from? 600 of them are administrative staff from different MTA divisions, and they make up about 15% of the non-union employees. The other 450 staff are NYC subway station agents. Get this, though, those 600 admin jobs somehow create a savings of $50 million. How does that work? Read more…