Bank of Mexico launches cost-cutting drive
Measures include a targeted 10% cut to the wage bill
The Bank of Mexico has launched a drive to cut costs, including plans to cuts its wage bill, as part of broader public sector austerity measures.
In a statement, the central bank said it was targeting cuts to its 2017 budget of at least 140 million pesos ($6.6 million), in line with a government reform drive that includes structural reforms and fiscal consolidation.
The central bank's board approved a budget worth 6.8 billion pesos in 2016, meaning a 140 million peso cut represents about 2%.
The
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