City officials say that New York City plans to fire thousands of workers to save around $1.5 million. the city has a projected budget deficit of $3.3 million. The city is expected to release specific figures soon. New York City employs over 300,000 workers. A hiring freeze went into effect in September, and agency heads were told to cut spending.
See "New York City Said to Be Firing Thousands of Workers to Close Budget Gap", Henry Goldman, Bloomberg News, November 17, 2010