At a press briefing on April 13th, the MTA laid out its plan for overhauling how it does business. It has taken the following actions which will make a $383 million dent in the estimated $790 million deficit:
–Reducing administrative payroll by 15% and 20% at Headquarters
–Implementing service cuts approved by the MTA Board
–Proposed phased elimination of free and discounted MetroCards for NYC school children
–Layoffs of station agents
–Revising paratransit service
The remaining $378 million shortfall is expected to be addressed in the following ways:
–Controlling overtime
–Modernization of inventory processes
–Consolidation of administrative functions
–Additional administrative cost reductions
–Top-to-bottom review of every project in the operating budget to determine
what can be eliminated or put on hold
–Re-negotiation of contracts with major vendors
Click here for details of these actions.