World Bank To Cut 500 Jobs Globally; Create New Posts In India

World Bank’s financial year is from July-June period.

The job cuts would be spread across Finance and Technology, Internal Justice and Oversight, among other areas.

Besides, around 70 positions — that are currently open vacancies — would be cancelled.

“Staffing decisions are always challenging. But we feel confident that the changes we are making will help us better align our staffing to our strategy, which is what our clients want and what we must deliver,” the memo said.

Explaining the rationale behind the move, Kim said these staff decisions based on three principles — clarity, impartiality, and sensitivity.

“For staffing decisions, we must have a business rationale that is clearly articulated; we must ensure there are no favourites, no discrimination, and no retaliation,” he said.

Emphasising the need to ensure that all career transitions are as smooth and considerate as possible, the World Bank chief said a Transition Support Unit has been set up.

“Staffing decisions are always challenging. But we feel confident that the changes we are making will help us better align our staffing to our strategy, which is what our clients want and what we must deliver,” Kim said.

Next steps related to the expenditure review and strategic staffing in operations would be unveiled next week.

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