New York City Mayor Eric Adams prepared for a slowing economy by cutting vacant positions to balance a $102.7 billion budget for the coming year.
As interest rates rise and companies tighten their belts, white-collar workers have taken the brunt of layoffs and job cuts, breaking with the usual pattern leading into a downturn. WSJ explains why many professionals are getting the pink slip first. Illustration: Adele Morgan
Mr. Adams, a Democrat, said his fiscal plan would find savings without layoffs or further reductions to city services. A preliminary budget released Thursday wouldn’t raise taxes. It assumes property tax receipts—the city’s biggest revenue source—will increase around $600 million in the next fiscal year, which starts in July, and stay around $32 billion in the next four years.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Adams unveils details of $103 billion proposed budget for New York CityAdams warned about a perfect storm of fiscal challenges ahead for the city.
Les mer »
Adding 14 New Restaurants, Michelin’s New York Guide Hints at This Year’s New StarsIt doesn’t mean they’re definitely getting Michelin stars, but they are the spots Michelin inspectors think you should be dining at.
Les mer »
Eric Adams pitches record $102.7B NYC budget — without money for migrantsMayor Eric Adams unveiled a record-breaking $102.7 billion budget proposal Thursday that would increase planned city spending by nearly 1.6%.
Les mer »
Citadel boss Ken Griffin urges Mayor Eric Adams to make NYC crime top priorityOne of the Big Apple’s billionaire landlords urged Mayor Eric Adams to make the city’s crime problem his top priority on Thursday. Citadel boss Ken Griffin spoke about the importance of…
Les mer »
Eric Adams says NYC can’t cater to migrants’ ‘cultural taste’ on foodMayor Adams expressed dismay over a report by The Post that revealed how a ton of food was being thrown out daily at the Row NYC hotel near Times Square.
Les mer »
Teen charged with attempted murder in New Year Eve attack in New YorkA 19-year-old man accused of attacking three New York City police officers with a machete near Times Square on New Year's eve, a crime investigators have linked to Islamic extremism, was charged in federal court on Tuesday with attempted murder.
Les mer »