SOEs told to cut employees by 33%

16 hours ago

Finance Ministry has instructed the Privatization and Corporatization Board (PCB) to cut the number of employees at state-owned enterprises (SOEs) by 33 percent. The PCB had issued a circular earlier in April instructing SOEs and its subsidiaries to cut costs in light of the economic shock from the US-Israeli war on Iran. These measures included controlling salaries and allowances, suspend promotions unless