TTC implements next phase of cost-savings amidst COVID-19 pandemic
May 24, 2020
In April, the TTC announced several cost-saving measures aimed at maintaining critically important transit service in the city while reducing costs. As a part of that phased plan, 450 TTC employees have been temporarily laid-off effective today.
“The TTC, like many other businesses, services and residents across the GTA, is faced with a challenging financial situation right now. The decision to lay people off was made only after exploring every possibility - it was a last resort,” said TTC CEO, Rick Leary. “We will continue to take care of the impacted employees as best we can during this difficult time and I look forward to the day when TTC ridership rebounds and we’re able to welcome them back.”
The COVID-19 pandemic has resulted in an 80 per cent drop in ridership and a loss of $90 million in monthly revenue – money that is essential to sustain operations. In addition to the layoffs, the TTC has also implemented the following cost-saving measures:
- Significant reductions in expenditures including reviewing current vacancies and forgoing hiring all seasonal hires.
- Pausing all salary increases for non-unionized employees.
- As well as assessing all capital project expenditures.
Service continues to be maintained at roughly 80 per cent of normal levels. Particular focus remains on servicing priority routes within the bus network. Service will continue to be monitored closely as the city gradually reopens and more customers return to regular or semi-regular transit use.
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