The new head of the International Monetary Fund has revealed plans to cut up to 15% of the organisation’s workforce. Dominique Strauss-Kahn said between 300 and 400 jobs will go to save around 68 million euros a year. Strauss-Kahn said without the restructuring, the IMF faces an estimated budget deficit of around 270 million euros by 2010.
The International Monetary Fund has 185 member countries; its staff of 2,635 hail from over 140 nations. It has access to up to 235 billion euros to lend to countries.