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The layoffs, along with salary freezes, the elimination of contract workers, lower marketing spending, and other measures are expected to reduce operating expenditures by $1.5 billion this fiscal year.
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Among the administration's goals, the chancellor said, were the elimination of a contract provision that restricts the administration from assigning teachers to hallway or cafeteria duty between classes, and a change in work rules that would reduce the number of substitute teachers needed for absent staff members.
Revenue in the quarter declined $100 million, to $6.6 billion, reflecting the elimination of unprofitable contracts with thousands of former Prudential Health Care members.
Among other things, the proposal called for: The effective elimination of guaranteed contracts by implementing a hard salary cap.
They initially demanded an absolute, hard salary cap, an $800 million rollback in salaries, elimination of guaranteed contracts and a 37 percent share for players.
Owners are still seeking a hard salary cap, elimination of guaranteed contracts and a nearly $800 million rollback in salaries, all concepts the players rejected outright.
The league has also dropped its demands for a hard salary cap, elimination of guaranteed contracts and a rollback in existing salaries — all items that would have set off a long and damaging battle.
"In February 2010, the players unequivocally rejected the owners' proposal which called for a hard cap, a 40 percent rollback in player salaries, unlimited expense deductions and the elimination of guaranteed contracts," Hunter said in a statement.
Correction: October 25 , 2002 Friday A brief report in the Company News column of Business News yesterday about the elimination of a pharmaceuticals contract between Aetna and Express Scripts misidentified the company that reported quarterly results and had a drop of $1.16 in its stock price.
Owners are pushing for drastic changes, including a potential 38 percent rollback in player salaries, a hard salary cap and the elimination of fully guaranteed contracts.
The players did achieve a significant victory Friday, persuading the owners to drop a longstanding demand for the elimination of fully guaranteed contracts With an expanded group of players in the room — including Carmelo Anthony, one of the league's brightest stars — the union made a passionate push on the issue.
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