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Thanks to an agreement with unions San Francisco will save about $48 million! ”The tentative agreement, reached Tuesday with labor unions representing 90 percent of the citys workers, saves the city 4.62 percent in payroll costs by imposing 12 days of unpaid furlough in the fiscal year beginning in July.
The agreement effectively replaces the mayors earlier plan to save 6.25 percent of the current payroll costs through firing and rehiring thousands of city employees on a part-time basis. The savings are estimated to be about $50 million, about 10 percent of the current $483 million budget gap.
Police officers and Muni operators were not included in the talks.
City managers must still cut more than 500 jobs by June 30, the mayors office said."
Sadly this leaves the city $433 million in deficit. Then they will lay off 500 employees--leaving the city about $380 million in deficit. What a joke. This is a city that wants to go bankrupt. The article did not mention that the city will have a deficit next year of over $500 million. But, by then the Mayor, Gavin Newsom, could be our Lt..Governor and he will forget the city exists.
Los Angeles is over $200 million in deficit and doing next to nothing to stop the $500million deficit of next year. In fact by the end of July, of this year the city will be out of cash AND reserves. Bankrupt.
Our great cities will officially by Third World cities and getting worse.
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The agreement effectively replaces the mayors earlier plan to save 6.25 percent of the current payroll costs through firing and rehiring thousands of city employees on a part-time basis. The savings are estimated to be about $50 million, about 10 percent of the current $483 million budget gap.
Police officers and Muni operators were not included in the talks.
City managers must still cut more than 500 jobs by June 30, the mayors office said."
Sadly this leaves the city $433 million in deficit. Then they will lay off 500 employees--leaving the city about $380 million in deficit. What a joke. This is a city that wants to go bankrupt. The article did not mention that the city will have a deficit next year of over $500 million. But, by then the Mayor, Gavin Newsom, could be our Lt..Governor and he will forget the city exists.
Los Angeles is over $200 million in deficit and doing next to nothing to stop the $500million deficit of next year. In fact by the end of July, of this year the city will be out of cash AND reserves. Bankrupt.
Our great cities will officially by Third World cities and getting worse.
More...