Central bank to cut 300 staff in Ecuador

The Central Bank of Ecuador (BCE) is to reduce its staff numbers by 28% to 777 as part of a cost cutting plan. The move brings the BCE into line with IMF recommendations and follows criticism of its high wage bill.

Chairman of the BCE Mauricio Yepez said "Before the bank was criticised for employing an excess number of staff and that the salaries were too high".

The redundancies were centered on its cultural, financial, research and administration departments, Yepez said, complaining that now t

To continue reading...