Russian gas giant Gazprom prepares mass layoffs in senior positions, Russian media says

Russian gas giant Gazprom may almost halve the number of employees in its central office, from 4,100 to 2,500.

Source: Forbes Russia

Details: A company spokesman confirmed the authenticity of the letter to the publication. It says that over the past 20 years, Gazprom's administration has increased several times, reaching more than 4,100 people, and the payroll is more than RUB 50 billion (about US$490 million).

Given this, it is proposed to reduce the number of people in Gazprom's administration to 2,500. The Russian nuclear state corporation Rosatom is cited as an example, where the management apparatus includes 1,246 people out of a total of 350,000 employees.

Background:

• The Russian Federation expects that the shutdown of its plants due to the latest US sanctions will not have a major impact on global markets but will significantly reduce Russia's revenue.
• Due to the new US sanctions against the Russian oil sector, Gazprom Neft has been given 45 days to withdraw from the ownership of the Serbian oil company NIS.
• The US Treasury Department's Office of Foreign Assets Control imposed sanctions against two of Russia's largest oil companies, Gazprom Neft and Surgutneftegas, as well as ship insurance providers Ingosstrakh and AlfaStrakhovanie.

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