SBD/Issue 57/Finance

CDI Eliminating Nearly 30% Of Corporate Office Positions

Churchill Downs Inc. (CDI) is “eliminating 22 full-time positions from its corporate office –- about 30[%] of the staff,” according to Gregory Hall of the Louisville COURIER-JOURNAL. While CDI did not “identify the employees affected or their positions,” Senior VP/Special Projects Karl Schmitt Jr. “confirmed he is being let go.” The restructuring includes, but is not limited to, corporate marketing and “represents one of the first major changes” by President & CEO Robert Evans. Evans said in a statement, “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.” In May, CDI announced it was merging “its corporate communications department with the same department for its flagship track,” and the corporate marketing department “was combined with its track marketing.” CDI said that employees “whose jobs have been eliminated have been offered severance packages and help finding new jobs” (COURIER-JOURNAL, 12/2).

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Churchill Downs Inc., Finance

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