With a small layoff payment, he bought a ticket to Marseille, where the French Foreign Legion turned him down.
The Aircraft Mechanics Fraternal Association said 56.59 percent of its voting members rejected the deal, which would have granted them 26 weeks of unemployment benefits, four weeks of layoff pay, and payment of accrued vacation time.
Earlier discussions with city officials, they say, have urged them to accept pay cuts, layoffs, increased worker payments to pensions and even a suggestion that officers might pay for part of their own bulletproof vests — all this while the city has opted not to increase taxes.
– Ashwin Seshagiri Velti's Layoffs, Departures and Delinquent Payments VentureBeat | Velti, a mobile advertising company, is losing out as Facebook learns the game.
According to the memorandum that Greece signed with its creditors, the new government must approve 11 billion euros in extra spending cuts that will include broad layoffs and reduced pension payments and wage cuts before it receives its next payout.
Developers and owners who borrowed heavily in 2006 and 2007 to buy projects like Stuyvesant Town and Riverton now face yawning gaps between rental income and their debt payments, as layoffs abound and demand falls.
With unemployment at a record 5.7%, the pressure on Hatoyama to stem layoffs and bolster welfare payments is intense.
He pointed to a continuing boost from new unemployment benefits passed in 2009 that gave workers up to 99 weeks of payments after layoffs and didn't run out for many people until late 2011.
He plans to tell mayors to skip debt payments, stop layoffs, cease home evictions and ignore central government demands for budget cuts, a message that infuriates Prime Minister Mariano Rajoy's government as it tries to convince investors in Spanish bonds that he can fix the battered economy.
If those expectations continue to decline, they will aggravate fears of a deflationary spiral, in which people begin to save money because they are worried about layoffs, salary cuts and debt payments and because they expect the prices of many products to fall in the months ahead.
