Reserve Bank cuts number of job roles by 20%

The cost savings from job restructuring will be $11m, the RBNZ said. (Image: NZME)

Wed, 29 Oct 2025

The Reserve Bank of New Zealand has cut its total number of jobs by almost one in five over the six-and-a-half months to Oct 13, comprising a mix of permanent, fixed-term and contingent workers.Expected cost savings from the restructure total $11 million.The central bank had a total of 597 positions at Oct 13, 2025, down 154 (20.5%) from 751 at March 31. The work was styled as Project Denby, after the pricey English pottery.Project Denby disestablished 217 positions and created 75 for a net 142 efficiency-related reductions, as reported by...

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