Rome, July 10 (IANS/AKI) Around 24,000 government employees in Italy are due to lose their jobs because of spending cuts worth 26 billion euros ($32 billion).
Around 11,000 of the workers are employed in government ministries and public bodies not related to economic functions, while the other 13,000 work for local administrations, according to a technical report of the Italian government’s spending review.
The report, however, said around 8,000 jobs will be created from early retirements.
Prime Minister Mario Monti and his government of unelected technocrats last week approved the cuts that will be spread out over the next three years, in a move to delay implementing a rise in value-added taxes.
The government came to power in November after Silvio Berlusconi resigned as a debt crisis threatened to cause Italy to default on interest payments for its 1.9 trillion euro debt.
The Daily News Post India(tdnpost)