Lots of politics involved in the service cut decision. There have been schedules proposed, furloughs formulated and a revised crew sheet tabulated. Whether the cuts are made is anyone's guess. Revenue is certainly down as the State administration continues to inflict China-Virus shutdowns. The feds continue to reject funding to replace revenue losses by State actions. A bit of a stalemate, you might say, with posturing via press release and service cut threats.
This may take years to completely play out, so don't expect quick answers. The State of New York hos financial problems and for the time being the Fed appears to be buying its bonds and assuming the newer debt.
There have been a few labor concessions, most notably from the clerical union, which agreed to a 10% pay cut through January for those employees working from home.
This may take years to completely play out, so don't expect quick answers. The State of New York hos financial problems and for the time being the Fed appears to be buying its bonds and assuming the newer debt.
There have been a few labor concessions, most notably from the clerical union, which agreed to a 10% pay cut through January for those employees working from home.
