Kazakh Government Tightens Its Belt

Last week Prime Minister Karim Masimov announced a government hiring moratorium.  9,000 vacancies in the civil service will not be filled, and that there will be massive layoffs at state-owned Kazakh companies.

State holding Samruk-Kazyna will reduce staff by 50%, with further average pay cuts of 30%.  Staff at Samruk subsidiary companies face 15% cuts in wages.  Major companies affected include KazMunaiGas (London-listed oil and gas company), Air Astana (national airline), Kazakhstan Temir Zholy (railway monopoly), Kazpost (postal service) and Kazatomprom (nuclear power company).

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