Samruk-Kazyna to Cut 729 Jobs in Astana, Aiming to Save 5 Billion Tenge

The Samruk-Kazyna National Welfare Fund plans to reduce its administrative and managerial personnel in Astana by 11%. According to data provided by the company to the "Interfax-Kazakhstan" agency, this strategic optimization is expected to save approximately 5 billion tenge in 2026 alone.

Fund representatives clarified that a total of 729 management positions across the group of companies will be eliminated. The average monthly salary for these employees was 762,000 tenge, and the fund aims to achieve the 5 billion tenge in savings within just the first three quarters of 2026. Those affected by the layoffs - the "white-collar" staff - will receive compensation equivalent to one month's average salary in accordance with labor law, as well as other payments stipulated in collective agreements. While these payouts may initially impact the overall economic efficiency, the long-term goal remains fiscal consolidation.

This move follows strict criticism from President Kassym-Jomart Tokayev, who previously called out the excessive number of "Left Bank officials" and over-inflated administrative staffs within national companies. Samruk-Kazyna, which oversees major industrial giants such as Kazakhtelecom, Kazatomprom, KazMunayGas, and KEGOC, had initially planned to cut 650 positions before revising the figure to the current 729. The restructuring marks a direct response to the Head of State's demand for a more lean and efficient corporate governance model.