Unions Ratify Concession Deal Second Time Around

Posted on August 18, 2011. Filed under: Uncategorized |

It’s official! Today, state employees ratified the concession deal they initially turned down in June, following clarification on some issues and the issuance of mass layoff notices. According to the Connecticut Mirror, the unions voted 25,713-9,291 to ratify the agreement, which includes job security for four years in exchange for a two-year wage freeze and health and pension changes.

It is assumed that most of the 3,000 layoff notices issued thus far will be rescinded.

Gov. Dannel Malloy has said this concessions deal will save the state $1.6 billion over the next two years.

Malloy released the following statement following the announcement from the unions:

“As important as it is that we’ve closed the current budget deficit in a responsible way – by avoiding thousands of layoffs and hundreds of millions of dollars in painful spending cuts – the real value of this agreement lies in the $21.5 billion it will save taxpayers over the next 20 years in the form of lower healthcare and retirement costs for state employees.
“We have achieved something the skeptics said was unachievable: we’ve made the relationship between the state and its workforce sustainable.  And, unlike in most other states, we did it without going to war with public employees…”
Read the rest of Gov. Malloy’s statement.

Make a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

  • Numbers are a language. CPAs can translate.

    Welcome to the official legislative blog of the Connecticut Society of Certified Public Accountants.

    These are the thoughts of Connecticut's CPAs.

  • Who's reading?

    • 6,734 hits
  • Enter your email address to subscribe to this blog and receive notifications of new posts by email.

    Join 37 other followers

  • Like us on Facebook

  • Archives

Liked it here?
Why not try sites on the blogroll...

%d bloggers like this: