The number of people employed at Turkey’s Central Bank has fallen to its lowest level in 10 years after 908 people left their jobs because of retirement, resignation and dismissal over the course of 2017.
As of the end of 2017, the headcount at the Bank was 3,370, according to the annual activity report submitted to the 86th Ordinary General Assembly Meeting on April 12.
The number of employees was 4,564 in 2016 and 4,437 in 2008.
In 2017, the Central Bank initiated a retirement incentive program to encourage employees born between 1952 and 1962 to step down. An employee deciding to retire at the age of 55 is given an incentive pay 12 times their gross monthly salary. Those deciding to retire earlier get higher incentive payments, the lowest being two times their monthly salaries.
After the slump in the number of employees at the Bank, it has been found that 47.5 percent of the workforce are between the ages of 31 and 40.
Personnel costs in 2017 thus decreased to 271.8 million liras, with a one percent year-on-year decline.
On the other hand, retirement bonuses and severance payments increased to 76.5 million liras in 2017 from 9.4 million liras in 2016.