Samruk-Kazyna, Kazakhstan’s National Welfare Fund, plans to reduce its staff by 10%.

The move comes after President Kassym-Jomart Tokayev called for a revision of the Fund’s personnel structure to enhance efficiency in the quasi-state sector, The Caspian Post reports via Kazakh media.

Administrative Cuts Only

Chairman Nurlan Zhakupov announced that the 650 job cuts will affect only administrative and managerial positions in Astana, leaving production units untouched. “All corporate decisions have already been taken and will be implemented in line with labor legislation by the end of March,” he said.

Focus on Project Oversight

Earlier, during a Board of Directors meeting, Prime Minister Olzhas Bektenov emphasized the need to strengthen control over the Fund’s major projects, signaling a broader push to improve performance and accountability across Samruk-Kazyna’s operations.