Layoffs are expected to be announced today at the Metropolitan Transportation Authority.
More than one thousand employees are facing the cuts under a revised plan tackling the agency's soaring $400 million deficit, according to a source briefed on the plan. The layoffs include the elimination of 450 subway station agents and over 600 administrative and managerial staff positions. The cuts are projected to produce savings of nearly $50 million.
Another way the transit agency hopes to save money is by changing the way it renovates Subway stations. Instead of replacing everything, it will simply fix or "renew" components that need work. Transit officials say the new approach will cost about $15 million a station, compared to up to $60 million for a full station rehab.