Samruk-Kazyna Cuts Off 50% of Its Staff

The National Welfare Fund Samruk-Kazyna of Kazakhstan has approved a new organizational structure of the fund with 124 employees instead of 248 like before.

Samsuk-Kazyna is also going to cut half of the fund’s ten executives.

«The number of subdivisions of the fund has been reduced by 33% from 27 to 13; the position of consultants no longer exists. Also, the fund is closing all its representative offices abroad,» Samsuk-Kazyna reported. 

Moreover, the fund has already approved a list of actions aimed at deep transformation of Samsuk-Kazyna including assignment of those officials who are going to be responsible for the process, announcing deadlines and setting check indicators.

«The fund has done a lot to reduce room for single-source purchasing. After all these documents were approved by the board of directors, the fund’s management has the power to develop a methodology for proper purchasing and to control the entire process of such buying,» the fund’s press service said.