Even as Mayor de Blasio spoke Jan. 14 of reducing city headcount by 5,000 and seeking additional savings from municipal unions, a bill championed by several labor leaders to offer an early-retirement incentive has lost momentum because of the city's success in gaining wage and fringe-benefit deferrals in return for no-layoff clauses that generally run through June 30.
"Previously, we had told New Yorkers that we had lost $9 billion in revenue between Fiscal Years '20 and '21...as a result of COVID," he said. "Unfortunately, as we now look into Fiscal '22, we can update that number and tell you the revenue loss from COVID will be at least $10.5 billion, a staggering number."
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