New Zealand government to lay off 8,700 employees by 2029

New Zealand government announced plans to slash public service jobs by about 14% over the next three years, resulting in about 8,700 job losses. Finance Minister Nicola Willis said the government will reduce most agencies' operating budgets by 2% in the coming year, followed by a further 5% in each of the following two years, ​generating $1.41 billion in ​savings.