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UK gov't to cut pay for laid-off civil servants

The British government, which is poised to lay off hundreds of thousands of employees, announced Tuesday that it will slash its payoffs to long-serving civil servants who lose their jobs. Full story

IMF to Cyprus: slash public sector spending now

The International Monetary Fund on Monday projected a return to positive growth for Cyprus next year, but urged bold action to reign in a burgeoning fiscal deficit that could threaten the Mediterranean island's economic recovery. Full story

Summary Box: Treasurys slide, pushing up yields

LATE REVERSAL: Interest rates rose in the bond market Thursday ahead of the government's June jobs report early Friday. Full story

Romania to cut 53,000 government jobs

Romania plans to cut over 53,000 public jobs as part of a package of austerity measures aimed at reining in the budget deficit, officials said on Thursday. Full story

Striking workers force closure of Madrid metro

Striking workers protesting a 5 percent austerity pay cut forced the closure of the metro in the Spanish capital of Madrid on Tuesday after they flouted minimum service agreements in a second day of industrial action. Full story

Russia's Medvedev floats spending cuts

Russia's President Dmitry Medvedev has ordered the government to consider cutting the number of public sector workers by 20 percent and to privatize more state property. Full story

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Articles

Britain's budget cuts to cost 1.3 million jobs: report

UK jobless rate eases to 7.9 pct

Romanian government survives no-confidence vote

Cops, nurses may strike during World Cup

Greece to count state workers — for the first time

Why the Greeks are angry

Cities with job growth favor public sector hiring

Study: States must fill $1 trillion pension gap

Video

  O’Reilly confused over health reform

Nov. 10: Watch in Worst Persons in the World as Fox News’ Bill O’Reilly refers to the public option as a “public sector.”