Sunday, March 20, 2011

Costa Mesa CA must lay off almost half of workforce to meet pension obligations

A town in California, Costa Mesa, has laid off almost half its workforce because of pension costs for retirees made by past promises during the false “boom” a few years ago (before 2008). Peter Whoriskey has the story in The Washington Post, front page, Sunday March 20,  (website url) here

This does sound like the worst case of a municipal layoff due to the “pension tsunami” yet. 

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