Public Workers In Hungary Protest Pay Cuts, Possible Layoffs
Saturday November 29th, 2008 / 15h43
BUDAPEST (AFP)--More than 10,000 public-sector employees protested in Budapest on Saturday against planned government austerity measures that include pay cuts and possible layoffs. Gathering in pouring rain outside parliament, they demanded a 4% pay increase and opposed plans to eliminate an end-of-year bonus, known as the 13th month, equal to a month's salary. Labor unions are threatening a strike on Jan. 12 if the government fails to respond to the demands. Hungary introduced austerity measures, including a freeze on public-sector wages, after it sought help from the International Monetary Fund, the European Union and the World Bank in the midst of the global financial crisis. The combined EUR20 billion lifeline requires the Hungarian government to sign up to a series of measures to cut spending and put its fiscal house in order. Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=0JBT6WDJjl8kMJqat75yDA%3D%3D. You can use this link on the day this article is published and the following day.
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