FTSE 100
Dow Jones
Nasdaq
CAC40
Dax

Tuesday 14 September 2010

One million public sector jobs to go

Radical plans have been announced to lay off huge numbers of state employees, to help revive the country's struggling economy. According to the unions more than a million workers would lose their jobs - half of them by March next year.

Those laid off will be encouraged to become self-employed or join new private enterprises, on which some of the current restrictions will be eased.As many as one-in-five of all workers could lose their jobs.

"Our state cannot and should not continue maintaining companies, productive entities, services and budgeted sectors with bloated payrolls and losses that hurt the economy," said the union leaders. "Job options will be increased and broadened with new forms of non-state employment, among them leasing land, co-operatives, and self-employment, absorbing hundreds of thousands of workers in the coming years".

In Cuba.

No comments: