VEB says plans to lay off 40–50% of current staff

MOSCOW, Jun 1 (PRIME) -- Russia’s state-owned Vnesheconombank (VEB) plans to lay off 40–50% of the current staff, a spokesperson for the bank told PRIME on Friday.

“A decision to reduce the staff and the number of VEB’s employees was made upon results of an audit of the state corporation’s state, with attracting internal expertise and specialists… Optimization will be quite large-scale – at a level of 40–50% from the current staff. Requirements to labor efficiency will grow. Taking into account professionalism of employees, tasks set for VEB as a basic development institute will be fulfilled,” the spokesperson said.

In 2017, the average staff of VEB’s employees comprised 1,795 people. The salary fund for 2017 was 7.1 billion rubles.

(62.0188 rubles – U.S. $1)

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