Woodbine announces job cuts at 2 Ontario racetracks
Ontario's horse-racing track operator says it's being forced to slash hundreds of positions to keep pace with a reduction in revenue.
Woodbine Entertainment Group says it's cutting 109 salaried jobs at its Woodbine and Mohawk Racetracks.
The company says it is also cutting "a significant number" of hourly jobs, converting many roles to seasonal positions and reducing the amount of hourly work available at the tracks.
Woodbine says the cuts come as a result of a drop in the company's sales.
The company says it's been losing money ever since the provincial government pulled slot machines owned by the Ontario Lottery and Gaming Corporation from the tracks.
The government says the move will help it combat its rising provincial deficit.
Woodbine says it's signed new transitional agreements with the province and the lottery corporation, but says the money from those deals can't make up the loss of the slot machine revenue.
"Today is a very difficult day for Woodbine Entertainment Group," Woodbine chief executive Nick Eaves said in a statement.
"The people we are saying goodbye to have helped build WEG into a world-class horse-racing and entertainment company."
Woodbine said it has been forced to take additional steps to contend with the revenue loss, including announcing a reduced schedule of horse races for the coming year.