World News

22109 readers

99 users here now

Breaking news from around the world.

News that is American but has an international facet may also be posted here.

Guidelines for submissions:

Where possible, post the original source of information.
- If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
Do not post ragebait or shock stories. These will be removed.
Do not post tabloid or blogspam stories. These will be removed.
Social media should be a source of last resort.

These guidelines will be enforced on a know-it-when-I-see-it basis.

For US News, see the US News community.

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 3 years ago

MODERATORS

[email protected]

Russia's Energy Company Gazprom Weighs Laying Off 1,600 Managers Amid Wartime Losses (www.themoscowtimes.com)

submitted 1 day ago by [email protected] to c/[email protected]

2 comments fedilink hide all child comments

Archived link

Russian energy giant Gazprom might soon lay off some 1,600 managers in an effort to cut payroll expenses, St. Petersburg media reported Monday, citing a letter from a board member to the company’s CEO Alexei Miller.

The proposal comes as Gazprom faces a sharp wartime downturn, with its gas trade to Europe — once its primary market — collapsing in the wake of Russia’s invasion of Ukraine. In 2023, Gazprom posted its first annual net loss since 1999.

Yelena Ilyukhina, deputy chairwoman of Gazprom’s management board, highlighted in a Dec. 23 letter to Miller that the company’s management staff at its St. Petersburg headquarters had grown to more than 4,100 people over the past two decades.

According to the letter, published by the local news outlet 47news.ru, payroll expenses at Gazprom’s headquarters total over 50 billion rubles ($486 million). Ilyukhina proposed reducing the number of managers to 2,500 and called for “optimization” proposals to be submitted to Miller by Feb. 15.

Gazprom’s deputy chairman, Sergei Kupriyanov, confirmed the letter’s authenticity to Forbes Russia but declined to provide additional comments.

[...]

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 4 points 22 hours ago* (last edited 22 hours ago)

1,000 to 1,600 terminations

...not good, not bad.