NYC Metro Transit Authority Warns of 40% Cut, Shedding 9,300 Jobs
The NYC Metropolitan Transportation Authority plans to eliminate 9,367 jobs and drastically cut back subway, bus and train services that are vital to the region’s economy if the federal government fails to send more aid to the largest mass-transit system in the nation.
MTA officials Wednesday warned of a dire scenario involving service cuts of up to 40% for subways and buses and 50% for commuter-rail lines, while fares and tolls would increase. The agency is seeking $12 billion of federal aid to help fill budget shortfalls this year and next and said it would need to borrow $3 billion to plug budget deficits.
The scale of the cuts would threaten major disruptions to commuters and potentially exert a drag on the city’s economic recovery even after the Covid-19 pandemic recedes. The service cuts would mean longer wait times even during peak hours. The transit agency might implement the changes in May.
The doomsday scenario comes as ridership forecasts have weakened. The MTA now estimates ridership won’t reach 80% of pre-pandemic levels until 2024 in a best-case scenario, according to a McKinsey & Co. analysis. Earlier projections anticipated returning to pre-pandemic levels around 2023.
The panel is set to vote on the spending plan next month.
https://www.crainsnewyork.com/transportation/mta-warns-40-subway-cut-shedding-9300-jobs#:~:text=The%20Metropolitan%20Transportation%20Authority%20plans,transit%20system%20in%20the%20nation.