The Philadelphia Housing Authority is laying off nearly 300 employees in the new year, according to a statement from the agency.

The layoffs are part of the agency's efforts to continue helping Philadelphia residents find affordable housing in the city.

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"This action will save over $28 million annually, which will be redirected to assist current residents and those still waiting for stable housing," PHA president and CEO Kelvin Jeremiah said. “Decisions like this are never easy, but they are necessary to protect residents’ needs and to ensure the sustainability of our new and repositioned housing assets, and to mitigate potential future reductions funding."

The layoffs are expected to take place over two

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