The financial well being of our state is almost completely dependent on stock market performance, so things can very quickly take a turn for the worse.
I'm guessing he'll offer a 5% pay cut mandatory of course and the union will come back and say nay we guarantee at least 10% for our people in fact make sure the insurance rate doubles this year too while you're at it and then somehow turn around and explain to us how this is the bestest contract of all contracts
LAO also forecasted a budget deficit of $18 - $31 billion two years ago. Gov's office forecasted a $40 billion deficit. Yet CA had a $75 billion surplus instead followed by another $97 billion surplus. With healthy rainy day reserves of $37 billion and what should still be somewhat healthy employment numbers, I don't think we'd get a pay cut, PLP days or furloughs.
Even funnier that Mayor Steinberg said state workers should telework, then the next day he said they should all go back to work to help revive downtown. SMH
The governor and legislature already knew the obvious mega recession, no matter how much the president and other economic leaders said otherwise (just for optics), was just around the corner (about a half yearish ago).
We are in a big recession. Layoffs are being announced all over the private sector now. Hard to imagine a scenario where the unions will be able to negotiate salary increases.
Didn’t we have a $40B surplus last year?
this article does say that despite the shortfall, the state has some $37b in rainy day funds
The financial well being of our state is almost completely dependent on stock market performance, so things can very quickly take a turn for the worse.
I'm guessing he'll offer a 5% pay cut mandatory of course and the union will come back and say nay we guarantee at least 10% for our people in fact make sure the insurance rate doubles this year too while you're at it and then somehow turn around and explain to us how this is the bestest contract of all contracts
LAO also forecasted a budget deficit of $18 - $31 billion two years ago. Gov's office forecasted a $40 billion deficit. Yet CA had a $75 billion surplus instead followed by another $97 billion surplus. With healthy rainy day reserves of $37 billion and what should still be somewhat healthy employment numbers, I don't think we'd get a pay cut, PLP days or furloughs.
As I said in another post— Funny (not) that state employees start having to come back 2-3 days a week and costs start going up…
Even funnier that Mayor Steinberg said state workers should telework, then the next day he said they should all go back to work to help revive downtown. SMH
Here comes a 10% pay cut
Wow, I really busted my ass this year and less then a month away from my MSA...I guess not.
What do you mean you guess not? Your MSA is statutory and not connected to whether there is a surplus or deficit.
[удалено]
I would not be surprised if we were hit with another round of furloughs, like we did in 2008.
I hope all state employees remember this and who the state leadership was that caused all this while wasting billions of our tax dollars....
The governor and legislature already knew the obvious mega recession, no matter how much the president and other economic leaders said otherwise (just for optics), was just around the corner (about a half yearish ago).
U can kiss it goodbye. They are not going to the 37b in reserves to give us a raise. Bad optics and all.
We are in a big recession. Layoffs are being announced all over the private sector now. Hard to imagine a scenario where the unions will be able to negotiate salary increases.