5.3% Reduction in Pay and Benefits
The City of San Carlos announced today that it has reached an agreement with Management Unit employees for pay and benefit reductions that start on July 1, 2010. This is the third time that Management Unit employees have agreed to salary and benefit reductions since the current Salary & Benefit Resolution was adopted in July 2008. These reductions will be considered by the City Council in this coming Monday’s meeting.
According to the press release, the total savings from canceling the cost of living increase this past March combined with the most recent cuts that will take place on July 1 will amount to $360,000. A sizable portion of these savings will come from a 1.5% cut in base salary across the board. Kudos to the City employees for taking this difficult step during such tough financial times. There is no easy or painless solution to solving the City’s structural deficit, and there are many difficult decisions still to be made to close the gap. But every contribution is significant, and this gesture on behalf of the employees of the City of San Carlos is big, both literally and symbolically.
For complete details on the proposed pay and benefit cuts, click here for the complete press release.
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