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CMHC cutting 2015 jobs in restructuring, adding to risk management and IT

The Canadian Press

OTTAWA - The Canada Mortgage and Housing Corp. is cutting 215 jobs in a restructuring of the Crown corporation.

The federal agency says the employees have been declared surplus and will see their jobs disappear.

However, CMHC says it is adding to its staff in risk management and information technology, so the organization will only see a "small net reduction" in its overall staffing levels.

According to CMHC's 2013 annual report it had roughly 1,900 employees.

The cuts follow a review by CMHC of its business and how it is organized.

It says the new organizational structure will result in more efficient processes.