Churchill Downs to Cut 30% of Corporate Staff
Updated: Monday, December 4, 2006 11:22 AM
Posted: Friday, December 1, 2006 2:03 PM
Churchill Downs announced a staff reduction of 30 percent of the company's full-time corporate workforce Dec. 1, a move that will eliminate 22 positions in a variety of departments.
CDI President and Chief Executive Officer Robert L. Evans said in a news release that the restructuring, which includes a reorganization of the corporate marketing function, "ensures the corporate team is strategically aligned and ready to execute on new business opportunities."
"First, I want to express my appreciation to the people affected by this organizational change for their significant contributions to the company's success," said Evans in the release. "However, we need different organizational capabilities to grow our company and pursue the opportunities we see before us, and that is the reason for the changes we are making.
"Such change is never easy for the people affected, and we will do whatever we can to help them transition to new careers."
Employees whose jobs have been affected by the restructuring have been offered severance packages and outplacement assistance.
Julie Koenig Loignon, Churchill's vice president of corporate communications, told The Blood-Horse
in an email that the company would not comment beyond what was stated in the news release.
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