NYC Considers 4,300 Job Cuts to Balance Budget

New York City Mayor Michael Bloomberg’s latest budget proposal would eliminate 4,300 jobs and reduce pay raises for teachers. The pending moves come as the result of a $4.1 billion budget deficit the city is facing.

“While we will revisit these decisions as the budget process unfolds in months ahead, I will say that at this point they appear unavoidable,” Bloomberg told the local press. He did note that all but 1,000 of the cuts would come through attrition.

The cuts would include 834 layoffs and the City Council has until June to agree on a final budget.