UPDATE: 10:07 p.m.
(CBS) — The Chicago Board of Education made its pension payment on schedule Tuesday, but at a cost — massive layoffs.
The meet the $634 million obligation, the board used a combination of borrowed money, $200 million dollars in cuts and layoffs it promised before talks with the Chicago Teachers Union broke down last week.
The board is expected to lay off 1,400 employees, and Interim Schools CEO Jesse Ruiz said in a statement that classrooms will be impacted.
“As we have said, CPS could not make the payment and keep cuts away from the classroom,” he said.
“This is not all teachers,” Board of Education spokesman Bill McCaffrey said. “This will begin starting tomorrow in the central office. School based positions won’t be impacted until later this summer.”
Mayor Emanuel said Tuesday that schools would open on time this fall, but he refused to discuss what classrooms would look like when they did.
Although the 1,400 anticipated layoffs are fewer than half of the 3,000 layoffs Union President Karen Lewis said school board negotiators threatened last week, the union is claiming it was “blindsided.”