A statement on the Bank of England website said:
The review looked at staff deployment and direct expenditure and has identified savings of around £18m by 2015/16 (around 10% of the spend reviewed).
Funds released through this review will be re-invested across the business in order to support delivery of the Bank’s statutory objectives.
As a result, a number of teams around Central Services will be reorganised.
The changes will provide new opportunities for some staff, as they will move to new roles in the organisation.
A number of other jobs will not be filled as staff retire or move on. It is, however, envisaged that there will be between 80-100 redundancies, subject to staff consultation.
The Bank is working closely with the Bank’s union to ensure that affected staff will receive support to find alternative employment.
More top news
Samsung will release an update for their Galaxy Note 7 smartphones that will prevent them from charging and functioning as mobile phones.
Colombia's President Juan Manuel Santos has accepted the Nobel Peace Prize at a ceremony in Stockholm.
Rain will linger across the south for much of today, slowly clearing away through tonight