Job Cuts Hit Navy Pier, McCormick Place
Furloughs, early retirement will cut work force by 20 percent
Updated 9:15 PM CST, Mon, Nov 16, 2009
There's more signs of touch economic times, as McCormick Place and Navy Pier announce sweeping job cuts.
The Metropolitan Pier and Exposition Authority, the organization which runs the Chicago attractions, voted unanimously on Monday to reduce full time staff by 20 percent through layoffs and early retirement.
It's hoped the move will help close the gap on a $29 million operating deficit.
McCormick Place has 500 employees, 300 of them non-union. In July, 200 unionized employees were shifted from full-time to part-time status, paving the way for a 10 percent reduction in their hours, the Chicago Sun-Times reported.
The deep recession has cut into revenue streams, the board says, and nearly tripled deficit projections.
The cuts are expected to save the agency about $16.5 million per year.
McPier has been lobbying for several years to get relief in Springfield from its back-loaded debt-payment schedule, and officials say efforts will continue, the Chicago Tribune reported.
Copyright Associated Press / NBC Chicago
First Published: Nov 16, 2009 8:56 PM CST
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