A Closer Look

Detroit budget | 2,500 layoffs

Detroit Mayor Dave Bing’s adminstration has laid out a budget proposal that would cut more than 2,500 jobs and shave $250 million from the city’s annual expenses.

Chief Operating Officer Chris Brown told City Council members Monday the layoffs would be in addition to 1,000 job cuts Bing sought earlier. Brown says the city’s general fund revenues will decrease from $820.5 million to $739 million.

Detroit has an accumulated budget deficit of $265 million and $13.2 billion in long-term, structural debt and is trying to fix its finances after agreeing to state oversight

Bing’s budget proposal also calls for privatizing the city’s bus system and transferring its lighting department to an independent authority…

Source:

 

via Bing’s budget plan: 2,500 layoffs, privatization | CanadianBusiness.com.

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