NYC Considers 22,000 Job Cuts to Save $1 Billion, Mayor Says

New York Mayor Bill de Blasio said the city is considering 22,000 layoffs and furloughs among its 326,000 employees to cut $1 billion of expenses after lockdown-related revenue losses.

De Blasio has projected a $9 billion loss in tax revenue over the next two years because of the pandemic. He presented his $95 billion budget in February, and that was reduced to about $89 billion in April after the coronavirus outbreak.