Derby Trail Forums - New York OTB fires 35 workers

Quote:

New York City Off-Track Betting Corporation fired 35 non-union employees on Thursday and Friday, a move that will save the bankrupt company $2 million a year, the company's chairman said in a letter sent to state regulators.

Sandy Frucher, who was appointed chairman of New York City OTB last year, said in the letter that the firings were "just the first of many steps" that the company plans to take as it reorganizes under the protection of Chapter 9 bankruptcy. The letter, which was addressed to New York State Racing and Wagering Board chairman John Sabini, described the employees as having "management" positions.

"While regrettable, this action is a necessary step to operate our business more efficiently and effectively as we look toward a new future," Frucher wrote.