The Reserve Bank of Zimbabwe has announced plans to cut 74% of its work force in a restructuring effort.
Reuters, a newswire, on Tuesday reported that Gideon Gono, the governor of the central bank, told a parliamentary committee the central bank was looking at "retrenching 74% of [its] staff." At least 1,600 employees are expected to be laid off, according to the report.
In 2007, the central bank employed 1,360 staff. Representatives at the central bank could not be reached to verify the number