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Wednesday, December 15, 2010

High Workers Compensation Costs May Force County to Layoff 100 Workers

Citing the high workers compensation costs, Passaic County NJ is seriously considering laying off more than 100 workers in an effort to balance its budget. The Counting is facing a $7 Million dollar budget cap.

High costs for workers' compensation  coverage has been a critical budget issue for many governmental entities. Last month the United States Postal Service reported that it may consider filing for bankruptcy as a result of high workers' compensation costs.  Some public entities are considering privatizing workers' compensation inorder to reduce mounting workers compensation costs.