City to Cut 3,000 Jobs

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Hot on the heels of Goldman Sachs, which reportedly began a round of layoffs this morning, Mayor Bloomberg has just announced that the city will cut 3,000 jobs from its workforce, including some in education, children's services, and the police department. "We are faced now with the reality from the financial crisis," he said. "We must cut spending and generate more revenue. Each path is unpleasant and painful." [City Room/NYT]