August 2, 2010
Life on furlough: Working 12 months for 11 months pay
...While some places ask workers to give up just a few days, elsewhere it can be much worse. California, for example, requires employees to take off three unpaid days a month, while Hawaii is mandates 18 days a year through mid-2011.
For the states, this effort is racking up big savings. That's helping to close the enormous budget gaps many states face. In California, the 14% pay cut has saved the state $2.8 billion in its first 17 months and $147.2 million per month now.
But for workers, the furloughs can be equivalent to losing as much as a month's pay each year. For Dwight Weatherford, it has meant filing for bankruptcy...
LINK - Money.CNN.com
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