Heart Wrenching Cuts Across America
Today we learned Conde Nast was cutting 25% of its magazine budgets of its many titles....now here comes another 25% cut from California.....
This was not a happy hump day at the San Jose Redevelopment Agency. Today 24 staff members learned they are being laid off thanks to the state's budget trouble. That is nearly 25 percent of the staff.
The agency said it had no choice because it was faced with a "monumental taking by the state of California of $88 million."
The layoffs follow a $2.5 billion cut in state funding for all redevelopment agencies in the state. Specifically, San Jose lost $62 million this year and will lose another $13 million next year. That's in addition to a $13 million cut in 2008.
Projects are on hold and people are out on the street.
Somehow the cuts add up to an annual savings of $3,071,072.
The executive director called the layoffs heart-wrenching.
"The state has left us with few options. As we are forced to halt or scale back Agency-funded projects, we must begin the process of significantly scaling back our budget and our capital program to pay the State. Much of our staffing is project-oriented, and with the significant reduction in projects, there were no other options,” Harry Mavrogenes said.
Keep watching the ticker FOOLS as the Zombulator unleashes the September Slasher....soon few will be paying taxes as 2/3 of Americans depend on Social Security for their primary source of retirement income....
Billions in funding cut off....projects cutting back.....jobs slashed.......and the recession is ending????????
When you anger the people enough.....pretty soon they get angry back!!!!!!!!!!!!!!!!!
Angry workers beat to death a human resources vice president after he laid off 42 employees at an auto-parts manufacturing company in southern India, police said Wednesday.