Chicago Mayor Richard Daley today unveiled a series of cost-cutting measures to balance a $550-million deficit. The plan includes eliminating several hundred vacant positions and requiring all non-union workers to take 24 furlough days. Daleys says he’s working with unions to balance the budget.

DALEY: They have to realize it’s effective, all the unions, even the private sector, all the unions are high percentage of unemployment there. We’re all on the same boat. We just have to figure out how we row together.

Daley says this latest round of belt-tightening will save the city $114-million. He has said he doesn’t plan on creating any new taxes. The mayor is expected to present a complete budget plan to the City Council later this week.