NYC Freezes Hiring as It Seeks $2 Billion of Savings
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New York Mayor Michael Bloomberg ordered agencies to freeze hiring until they receive his approval for spending cuts totaling $2 billion during the next 21 months.
The directive comes as the mayor anticipates a $3.3 billion budget gap for the 2012 fiscal year that begins July 1. He told officials to seek savings of about $800 million in the remaining nine months of this fiscal year and $1.2 billion in 2012.