(CNN) — Greek lawmakers on Sunday agreed to cut thousands of government workers to secure another 8.8 billion euros ($11.5 billion) in bailout funds.
The vote clears the way for 15,000 civil servants to be fired by the end of 2014, the first time Greece's cash-strapped government has said it will cut workers. The goal of the measure is to cut the country's budget deficit and revive its economy.
Approval means Greece will receive a new tranche of rescue loans from its creditors, the European Union and the International Monetary Fund. But the layoffs will be coming at a time when the unemployment has skyrocketed to more than 27%, and the same legislation also extends a widely unpopular property tax.
The measure passed with 168 votes in the 300-seat parliament, and Athens expects to receive the 8.8 billion euros by mid-May.
EU and IMF officials said earlier this month that Greece is on track to reach its bailout targets.