Global Analysis from the European Perspective. Preparing for the world of tomorrow

Massive layoffs and pay cuts are likely coming to state and local governments as federal aid goes elsewhere

  • State and local governments are warning of a wave of layoffs and pay cuts after getting left out of the federal coronavirus relief package expected to pass Congress this week.
  • In many places, such as Detroit and Los Angeles, those painful reductions are already taking shape.
  • State and local governments received aid under the $2.2 trillion CARES Act signed late last month, but they are pleading for new relief as Congress prepares to pass a bill to help small businesses and hospitals. Source CNBC

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