Showing posts with label puertoricogovernorluisfortuno puertorico economy fiscalcrisis. Show all posts
Showing posts with label puertoricogovernorluisfortuno puertorico economy fiscalcrisis. Show all posts

Wednesday, March 04, 2009

PR to slash thousands of government jobs

Yesterday's big story from Puerto Rico is that the governor plans to cut 30,000 government jobs. The government is one of the biggest employers on the island and this is devastating news to the island's economy. This new wave of cuts will also probably lead to new migration to the United States.

Featured story

Puerto Rico plans to slash 30,000 government jobs

SAN JUAN, Puerto Rico, March 3 (Reuters) - Puerto Rico Governor Luis Fortuno said on Tuesday he would slash 30,000 jobs, freeze salaries of government workers and raise some taxes, as he warned the U.S. Caribbean territory must confront "the reality of a bankrupt government."
For the complete report, go to
http://www.reuters.com/article/bondsNews/idUSN0350631020090303.

Thursday, January 08, 2009

Featured story

PR gov declares fiscal emergency, spending cut

Puerto Rico's new governor Luis Fortuno on Thursday declared a fiscal emergency because of the U.S. Caribbean island's darkening budget forecasts and a towering deficit of $3.2 billion.
For the complete AP report, go to this link
http://www.forbes.com/feeds/ap/2009/01/08/ap5898360.html