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Greek Parliament Approves Massive Layoff Plans

STEVE INSKEEP, HOST:

NPR's business news starts with massive layoffs in Greece.

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INSKEEP: Greek lawmakers approved emergency plans to cut 15,000 government jobs by the end of next year. They have to do that in order to receive more European Union bailout funds.

The Greek parliament approved a measure in a vote on Sunday. Their new law will overturn what had been a constitutional guarantee for public sector workers to have a permanent position for life.

There were street protests outside parliament against this move, but all three parties in the governing coalition supported the plan. Transcript provided by NPR, Copyright NPR.