Greek Cabinet Unanimously Approved 2012 Budget, Layoff Plan

Oct. 2 (Bloomberg) -- Greece’s Cabinet unanimously approved the government’s 2012 budget and plans to place 30,000 state workers in a labor reserve system, a government official said.

The labor reserve system, which will reduce spending on wages for those workers before they are dismissed, will mainly target workers who are due to retire in the next 24 months, said the official, who declined to be named.

To contact the reporter on this story: Natalie Weeks in Athens at nweeks2@bloomberg.net

To contact the editor responsible for this story: Maria Petrakis at mpetrakis@bloomberg.net