Employment News
NJ Transit Will Cut 200 Jobs
By sara | Dated: 03-03-2010
Officials at NJ Transit yesterday announced that they will lay off more than 200 workers and cut executive salaries by 5%. The executive salary of Director James Weinstein is included in the salary cuts; his salary will be reduced to $248,257.80 from $261,324. Layoffs will reduce the overall workforce at the agency by 2%. The agency will reduce its contributions to employees’ 401(k) plans by one third and freeze spending. NJ Transit will save $30 million; currently the agency faces a deficit of $300 million by June 2011. The budget cuts are a part of New Jersey Governor Christie’s plan to reduce state spending in the wake of a statewide budget deficit of $2.2 billion.
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