Categories: Top story of the day

RBZ to lay off 1 600

The media was awash with news today that the Reserve Bank of Zimbabwe will have to lay off 1 600 employees.  “We are looking at retrenching 74 percent of the central bank’s staff,” central bank governor Gideon Gono said. “I would like to say it is not one of the easiest tasks as it is going to be one of the largest retrenchments in the history of the country by a single institution.”  Staff levels at the Reserve Bank of Zimbabwe are reported to have grown more than 10-fold between 2003 and 2008 as it spearheaded a drive to pull the economy out of a severe crisis.

(15 VIEWS)

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

Share
Published by
Charles Rukuni

Recent Posts

Will Mnangagwa go against the trend in the region?

Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…

October 22, 2024

The Zimbabwe government and not saboteurs sabotaging ZiG

The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…

October 20, 2024

The Zimbabwe Gold will regain its value if the government does this…

Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…

October 16, 2024

Is Harare the least democratic province in Zimbabwe?

Zimbabwe’s capital, Harare, which is a metropolitan province, is the least democratic province in the…

October 11, 2024

Zimbabweans against extension of presidential term in office

Nearly 80% of Zimbabweans are against the extension of the president’s term in office, according…

October 11, 2024

Zimbabwe government biggest loser when there is a discrepancy in the exchange rate

The government is the biggest loser when there is a discrepancy between the official exchange…

October 10, 2024