by Calculated Risk on 12/19/2008 07:26:00 PM

From Bloomberg: Schwarzenegger May Order Unpaid Leave for Employees

California Governor Arnold Schwarzenegger may force all state workers to take two days of unpaid leave each month to conserve money ... The practice would begin in February and would last through June 2010 ...

The executive order also would seek to cut the state’s workforce by 10 percent through firings if necessary and would freeze new hiring ...

The leave would amount to a 10 percent pay cut ...