Belt Tightening at the IMF

02May08

It’s so very rare that karma seems present in the everyday world. However, it’s hard to read this little article about the International Monetary Fund, which spent the 80s-90s telling dozens of countries that they needed to cut back government services (and thus fire thousands of civil servants), is now itself laying off their own staffers. Poor Bastards

IMF Plans Some Layoffs

After suggesting Tuesday that there would be no layoffs as part of a downsizing effort at the International Monetary Fund, officials there said yesterday that there would be “a few.” Officials could not specify how many layoffs there would be but described them as “a handful.” Overall, the IMF is offering buyouts to almost 500 of its 2,900 employees.

I read that 1/4 of their employees have volunteered to be laid off, which can mean only 2 things. 1) They really believe their own rhetoric, or 2) They’re confident that elite jerk off economists such as themselves won’t stay unemployed for long.

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Tags: IMF, IMF Layoffs, International Monetary Fund