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Podcast: News For Reasonable People
Episode: L.A. city budget shortfall grows to nearly $1 billion, with layoffs 'nearly inevitable'
Description: L.A.'s financial problems exploded into a full-blown crisis on Wednesday, with the city's top budget official announcing that next year's shortfall is now just shy of $1 billion, making layoffs "nearly inevitable."City Administrative Officer Matt Szabo advised the City Council to focus on cost-cutting measures, including a potential reduction in the size of the workforce, to bring the budget into balance for 2025-26.Szabo, in his presentation to the council Wednesday, attributed the city's financial woes, in part, to increased spending on legal payouts, which have ballooned...