Junk City: Chicago Public Schools to layoff HQ employees today

Belding Elementary, NW Side

There will be fewer memos written at Chicago Public Schools headquarters soon as pink slips are coming.

From AP:

Chicago Public Schools will lay off some of its central office staff this week as it deals with its precarious financial state, the head of the district said Thursday.

The announcement by district CEO Forrest Claypool came a day after top Illinois Republicans called for a state takeover of the financially troubled school district, which has a nearly $1 billion budget deficit that could lead to thousands of teacher layoffs and a strike.

As with the city proper and the Chicago Park District--CPS bonds are rated as junk. President Obama's first education secretary is one of Claypool's predecessors.