NJSEA to cut 40 jobs

The New Jersey Sports and Exposition Authority (NJSEA), which operates the Meadowlands, Monmouth Park and three convention centers, will decrease its staff by 20 percent before the end of the year. In a story in Thursday’s Newark Star-Ledger, NJSEA president and CEO George Zoffinger said the cuts will eliminate $3 million from the authority’s budget.

Zoffinger told the newspaper the reason behind the staff cuts are declining horse-racing business and the planned destruction of Giants Stadium

"This is about a constant retooling of our business to reflect certain realities," Zoffinger said. "Rather than wait, we are taking a proactive approach."

This will be the second time Zoffinger cut the NJSEA staff, eliminating 47 jobs in 2002. The current staff numbers about 220, with the planned cutbacks expected to take that number down another 40.

The story stated the NJSEA is offering a buyout plan that tops out at 50 percent of one year’s salary, but no more than $50,000, for employees with more than 15 years of service.

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