Michael Johnston: “Sales tax is too flat, revenues and expenses are too high.”

“I mean, this is a terrible position to be in. No CEO, no mayor, no business leader ever wants to have to do this. But the condition we are in right now is Sales tax is too flat, revenues and expenses are too high. We have to right size. That will require laying people off. And that will be not just vacancies.” (15:05–15:10)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.