The Toronto Transit Commission announced last Thursday that it is losing $20 million a week due to plummeting ridership during the COVID-19 crisis. Ridership is down 85 percent as those in non-essential jobs heed the advice to stay home or travel by car because that is considered safer.
In an effort to reduce the losses, the TTC plans to temporarily lay off 1000 transit operators and 200 non-union staff. It said it intends to maintain 70 or 80 percent of service levels.
The TTC losses are just part of the city’s financial problems as revenues decline and some costs increase during the pandemic. I’ll be writing about this problem in greater detail in a future newsletter.