BANK OF NEW ZEALAND.
REDUCTION OF STAFF,
(By Telegraph.—Own Correspondent.)
WELLINGTON, this day
It is understood that the directors of the Bank of New Zealand have definitely decided to reduce the staff of that institution, which is said to have been increased beyond requirements by the addition of the staff of the Colonial Bank at the time ot the amalgamation. There will be no reduction of the salaries of the permanent staff, but between forty and fifty officers, mainly those who formerly belonged to the Colonial Bank, will shortly receive notice that their services will be dispensed with after a reasonable term. The Board anticipate a saving of expenditure of between £ 10,000 and £ 11,000 a year.
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Bibliographic details
Auckland Star, Volume XXX, Issue 54, 6 March 1899, Page 2
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116BANK OF NEW ZEALAND. Auckland Star, Volume XXX, Issue 54, 6 March 1899, Page 2
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