Lisbon plans to increase the retirement age and make public sector employees work an extra hour daily as part of a package of new spending cuts needed to avoid bankruptcy and remain in the euro.
Lisbon plans to raise the retirement age and make public sector employees work an extra hour daily as part of a package of new spending cuts needed to avoid bankruptcy and retain the euro as its currency.
Portuguese Prime Minister Pedro Passos Coelho unveiled the new austerity measures in an effort to meet the demands of international creditors, which envisions the redundancy of some 30,000 public sector jobs, together with the introduction of a 40-hour work week for civil servants and lifting the retirement age to 66.
Chosen excerpts by Job Market Monitor
via Portugal to lift retirement age, working hours in austerity drive — RT Business.
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