Sensible Deal in Providence?
Fiscal sanity coming to Providence? (I only question because the devil is in the details, which will be forthcoming tomorrow.)
Mayor Angel Taveras…said in a news release that [a new] agreement [with Local 1033] saves Providence “more than $26 million over four years, including almost $7 million in savings in the next 18 months.” It includes a pay cut, a three-year freeze on raises, a reduction in longevity pay, a reduction in wage levels for new hires, and increases in insurance co-payments, as well as enhancements to city services with no additional overtime.
“Local 1033 was an honest and forthright partner in this negotiation,” Taveras said in the news release. “Leadership came to the table in good faith and with a realistic understanding of the difficult steps we must take to restore Providence’s fiscal health.
“These are not symbolic cuts: these are real changes that will help us address the fiscal crisis we face, both short and long term. It is never easy to take a pay cut. I truly appreciate 1033’s willingness to be a partner in our effort to put Providence back on solid financial footing.”