LONDON, Dec 9 (Reuters) - The Bank of England is offering voluntary redundancies to staff at the central bank to help fund the investment in new infrastructure that was recommended in a review carried
Bank of England Proposes Voluntary Redundancies for Reforms
LONDON, Dec 9 (Reuters) - The Bank of England is offering voluntary redundancies to staff at the central bank to help fund the investment in new infrastructure that was recommended in a review carried out by former Fed chair Ben Bernanke, BoE policymakers said.
The central bank was making progress on implementing some of the technology changes, including adopting new data platforms, but the process would take time, Deputy Governor Clare Lombardelli told parliament's Treasury Committee on Tuesday.
"The Bernanke investment is one form of the types of investment that the bank is undertaking," Lombardelli said.
"The bank is undertaking a whole series of investments dealing with some of ... the technology challenges that we have. So, you know, a consequence of that is we're having to breathe in a bit on the staffing side to make space for that investment."
The scheme would be open to staff across the bank, Lombardelli and Deputy Governor Dave Ramsden said.
(Reporting by David Milliken; writing by Suban AbdullaEditing by William Schomberg)
