Puerto Rico to cut 30,000 jobs

Puerto Rico Governor, Luis Fortuno, has announced plans to cut up to 30, 000 jobs in public service.



Mr. Fortuno says the job cuts involving 14 percent of the public workforce will begin at the start of the next financial year, July 1.



The governor says he would also freeze salaries of government workers and raise some taxes to increase revenue for the cash-strapped government.



Mr. Fortuno says the measures are necessary even though Puerto Rico is counting on $5B from the Obama administration\'s stimulus package over the next two years.