New Zealand central bank proposes cutting fifth of staff
RBNZ’s plan follows government’s announcement of 25% reduction in funding earlier this year
New Zealand’s central bank said today (August 11) that it may cut around a fifth of its staff within two months after its funding was slashed earlier this year.
The Reserve Bank of New Zealand (RBNZ) said it had proposed to reduce the number of roles by 142, of which 35 would be currently vacant positions.
An RBNZ spokesperson said the bank was in the third and final phase of a restructuring process and that it expected to make a final decision regarding staff cuts on October 13. They added that
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