Cheltenham and Gloucester, a UK building society (credit union), just announced 1,600 layoffs; meanwhile the London Tube strike continues, following the breakdown of talks over the reinstatement of 2 (TWO) workers.
Are the two sides living on different planets? In the UK it appears that the entire burden of job losses has been shouldered by the private sector, whilst public sector jobs keep growing….last year they increased 50,000 every QUARTER!
Meanwhile, over 1/2 of UK firms have imposed a pay freeze ( or plan to do so), whilst public salaries enjoy healthy increases.
And what of pensions….with the recent tax changes its pretty much impossible for anyone in the private sector to accumulate as good a pension as someone in the public sector AUTOMATICALLY acquires.
Can this imbalance continue before the suits rebel! In the US the liberal government is just getting started, but whose nest will they feather along the way?
