Churchill Downs Consolidates Departments, Reduces Staff
by Ron Mitchell
Date Posted: 5/18/2006 1:34:51 PM
Last Updated: 5/18/2006 5:37:41 PM

Churchill Downs Inc. has restructured some of the company's corporate staff, resulting in the elimination of several positions and consolidation of the corporate and racetrack communications and marketing departments.

In a statement released Wednesday, CDI president and CEO Tom Meeker did not disclose which positions were eliminated or the individuals involved.

"Churchill Downs Incorporated today restructured its corporate work unit to optimally align our Company's fiscal and human resources with CDI's future growth channels," Meeker's statement said. "The restructuring involves the elimination of several corporate positions. Also, two service centers will consolidate: our corporate and racetrack communications staff will form one unified communications department, while our corporate and racetrack marketing staff will also consolidate into one team. Our unified communications and marketing departments will serve Churchill Downs racetrack and the company as a whole."

Meeker said the restructuring was designed to "focus our human capital in areas where we see the greatest potential for sustainable growth and to eliminate projects and programs that no longer fit with our strategic objectives."

The Churchill president also said the changes are a result of changes within the racing industry that make it harder for racetracks to remain competitive with other forms of gaming.

"We are taking these steps to proactively address changes within our industry that have left horse racing at a competitive disadvantage. Pari-mutuel handle continues to migrate to off-track sources, which produce lower profit margins for racetracks and horsemen. And, despite our continued efforts to keep our racing programs competitive by securing alternative gaming at tracks in the states where we operate, only one of our six tracks is currently authorized to offer slot machine gaming."

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