Miami Declaring ‘Financial Urgency’ Prepares for Wage Cuts
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Miami, facing a $61 million fiscal 2012 deficit, declared a state of “financial urgency” for a second-straight year, moving toward wage and benefit cuts.
The declaration gives unions for municipal workers two weeks to agree to contracts for the year that starts in October or be subject to actions imposed by the City Commission. Workers including police and firefighters absorbed about $80 million in reduced pay, health insurance and pensions in fiscal 2011.