DETROIT -- One-thousand people will lose their jobs in Detroit.

The announcement to cut 1,000 city employees came Friday on WDIV-TV, NBC25’s sister station.  Detroit Mayor Dave Bing said the positions would be eliminated by February 25, 2012, but notices are expected to go out in early December.

Mayor Bing told WDIV-TV the cuts are necessary due to the city’s current financial crisis.  Other budget reductions include healthcare changes and pension reforms. Combined, these eliminations are expected to save the city about $40 million.