Monday, September 13, 2010

Cuba to Shift 500,000 From State Payroll to Private Sector

Communism failed in Cuba a long time ago, just as it has every where else. It has taken a few decades but they appear to be taking some real steps toward fixing their economy.

"Communist Cuba will shift hundreds of thousands of state employees to the private sector in 2011 as the government prunes more than 500,000 workers from its payroll.

The official trade union federation said on Monday that eventually more than a million jobs would be cut.
The plan represents the most important reform undertaken by President Raúl Castro since he took over from his brother Fidel in early 2008, and the biggest shift to private enterprise since all 58,000 small businesses were nationalised in 1968.

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