Samruk-Kazyna lays off 15% of Its Management

    The Samruk-Kazyna National Welfare Fund has laid off 15% of its managerial personnel at its subsidiaries -- or 611 employees, Chairman Kairat Kelimbetov said.
    In addition, surplus dividends, premiums and incentive payments for management have been canceled, Kelimbetov said.
    At the fund’s corporate headquarters - 8% of staff have been let go, or 80 employees -- including 63% of the managerial personnel.
    Salaries were cut 27% at the central office for the remaining 7 months of the year, for a total of KZT 4.2 billion, according to CA-News.org.