The Lexington, Ky.-based Jockeys' Guild has dismissed its six office workers and six regional directors as a management team running the organization reviews its finances.
According to the Louisville Courier-Journal, the executive committee took the action to dismiss the personnel and have Matrix Capital Management run the guild last week. Long-time national secretary John Giovanni resigned a week ago.
The actions apparently a result of the expiration on April 1 of health insurance coverage for the organization's 800 members, the newspaper reported. Premiums for the coverage had gone up 43%, and the guild had not set aside enough money to cover the rising insurance costs, Matrix's Thomas Brondum told the Courier-Journal.