The Philadelphia Housing Authority is laying off 126 employees as it combats a $21 million deficit.
The Philadelphia Inquirer reports the layoffs are to be announced Tuesday and represent 14 percent of the agency's workforce.
President and CEO Kelvin Jeremiah says the cuts come as the agency has added 3,800 affordable housing units despite fewer dollars coming in to support that growth.
The agency has lost $146 million in housing subsidies since 2008 and the agency is expected to lose $14 million more in the next five years.
Jeremiah says the authority's restructuring will allow it to lower its deficit by $17 million and will allow more funding to go toward housing instead of what he calls an unnecessarily large staff.
Copyright AP - Associated Press
