Chicago Public Schools

 

Chicago Public Schools to cut 1,400 employees Wednesday, district borrowed $634 million to make pension payment - WMAQ-TV


PUBLISHED Tue, June 30, 2015 - 10:40pm EDT


"Springfield has failed to address Chicago Public Schools' financial crisis, so today CPS made its 2015 pension payment by borrowing money," said Jesse Ruiz, interim CEO of Chicago Public Schools. "As an immediate consequence of driving the district further into debt and our need to address the existing structural deficit - which is also driven by decades of pension neglect - CPS will make $200 million in cuts. As we have said, CPS could not make the payment and keep cuts away from the classroom, so while school will start on time, our classrooms will be impacted."





  Chicago, IL        3 UPDATES

 



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