More than 160 business leaders, including executives at Citigroup Inc. C, -0.87%, Mastercard Inc. MA, -1.99% and Nasdaq Inc. NDAQ, -2.94%, have signed a letter to Mayor Bill de Blasio warning of New York City’s deteriorating condition in the wake of the coronavirus pandemic and growing anxiety over public safety, cleanliness and other quality-of-life issues.
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In a letter sent Thursday, the leaders said the pandemic has devastated the city’s economy, causing high levels of unemployment. They urged the Democratic mayor to restore essential services that have been cut from the budget that he and the New York City Council recently approved.
The budget reduced or eliminated services like garbage pickups and graffiti removal, as well as shifted nearly $1 billion in funding away from the New York Police Department. The city still faces a $9 billion deficit over the next two years and may have to lay off 22,000 government workers in the coming weeks.
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Meanwhile, the city has seen a surge in violent crimes and thefts over the summer as officials loosened restrictions to prevent the spread of the new coronavirus.
An expanded version of this report appears at WSJ.com.
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Originally published on MarketWatch