“Samruk-Kazyna” Fund to Lay Off 650 Employees

The Chairman of the Management Board of the “Samruk-Kazyna” National Welfare Fund, Nurlan Zhakypov, announced that 650 people will be laid off at the fund, reports Juzmedia.kz.

Out of the total 6,500 employees at the fund in Astana, 650 will be affected by the reduction. According to Zhakypov, the optimization will only concern the administrative and managerial blocks, and it will not affect employees in the production departments.

“The number of administrative and management staff will be reduced by 10 percent. All corporate decisions have been made. While complying with labor legislation, we plan to fully implement this measure by the end of March,” he said at the Akorda.

It should be noted that earlier, President Kassym-Jomart Tokayev had instructed the heads of national companies, during an extended meeting, to review their structures and working methods.