More than 1 600 Reserve Bank of Zimbabwe (RBZ) employees will soon lose their jobs.
Central bank chief Gideon Gono Monday revealed his board had approved their retrenchment in a move aimed at streamlining operations and concentrate on core business.
The number of workers to be retrenched represents 74% of the total staff.
Speaking before the Parliamentary Portfolio Committee on Budget and Finance, Gono said all was set for the retrenchment.
“The RBZ board has already approved the retrenchment of between 530 and 1 600 workers,” said Gono. “Their packages have also been agreed upon.”
Gono is on record as saying the retrenchment was necessary in order to streamline the operations of the central bank as it tries to move away from its quasi-fiscal activities.
The adoption of a cocktail of currencies among other measures by the inclusive government has seen the central bank struggle to stay afloat with its bloated staff.