Puerto Rico and its federally appointed oversight board have reached a deal to avoid litigation over much-needed economic overhauls in the bankrupt U.S. territory, Reuters reported. Governor Ricardo Rosselló and the island’s legislature agreed to repeal protections that make it difficult for private-sector employers to fire workers at will, in hopes of spurring on-island hiring, Rosselló said in a statement on Sunday. In return, the board will not push to eliminate Christmas bonuses or reduce sick days, the statement said. The board said in a separate statement yesterday that it planned to revise accordingly the island’s fiscal turnaround blueprint, which Rosselló had opposed, avoiding litigation over its implementation.
