Schenectady is bracing for a $6 million shortfall in its 2026 budget now that the federal ARPA funds that stabilized last year’s plan are no longer available. Mayor Gary McCarthy has responded by freezing city hiring, marking the first step in confronting what could be a difficult budget process.

Novo Nordisk, the Danish pharmaceutical company known for Ozempic, is suspending new hires as it struggles to meet its lofty sales expectations. The move highlights the broader financial pressures the company has faced in recent months.