Menlo Park’s eight police sergeants have agreed to a two-year contract that includes no pay bumps and slashes 100 hours of paid work from the schedules of four sergeants, according to a city memo released Thursday.

Contracts for the sergeants, as well as the city’s officers, are set to expire on June 30.

Among Peninsula cities of similar size, Menlo Park police sergeants are the third-highest paid, making an annual base salary of about $131,448, according to a city survey of salaries. That’s less than what sergeants in Redwood City and Los Gatos make — about $145,548 and $132,804 per year, respectively — but more than what their counterparts earn in Palo Alto and San Carlos.

Menlo Park officials say they are working to reduce costs associated with the city’s 247-person workforce and will seek concessions from four union groups whose contracts are expiring this year. City staff is recommending council members approve the agreement, which runs from July 1 to June 30, 2013.

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