Gibraltar regulator sheds 22 staff in cost-cutting drive

Rock of Gibraltar

The Gibraltar Financial Services Commission (GFSC) has revealed that it has shed 22 staff in recent months.

The number of permanent full-time employees at the regulator has dropped from 100 to 78.

Insurance Age understands that no redundancies have taken place, and that the downsizing was achieved by freezing recruitment and choosing not to replace departing staff.

The regulator described the decisions as “cost management action”.

The GFSC has also restructured its management

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