Russia’s Gas Giant Braces for Mass Layoffs Amid Plunging Profits

Brendan Cole is a Newsweek journalist in London in the United Kingdom. Its objective is Russia and Ukraine, in specific the war introduced through Moscow. It also covers other geopolitical spaces, adding China. Brendan joined Newsweek in 2018 by International Business Times and, as well as in English, meets Russian and French. You can touch Brendan by sending an email to B. cole@newsweek. com or follow him in his account x @brendanmarkcole.

Based on the facts, it was observed and verified first through the journalist, or informed and verified of competent sources.

The H herbal fuel gazprom in Russia, Gazprom, would possibly be reduced, since it faces the decrease in income amid the sanctions imposed after the invasion of President Vladimir Putin to Ukraine.

Newsweek reached out to Gazprom for remark email.

Gazprom supplies approximately 7% of the Russian federal budget in 2021, the year that precedes the giant invasion at Putin scale. By 2023, he estimated that he would supply part of the sanctions, reduced production and old losses reached the sector. Large -scale layoffs can climb the main Russia generator for war.

In December, Elena Ilyukhina, vice president of the Gazprom Control Committee, sent a proposal to the ALEXEY Miller CEO to decrease from 4,100 to 2,500 to the central business office and to the San Petersburg branch, according to the 47News Telegram channel.

On Monday, the outlet posted an image of the document, in which Ilyukhina described the challenges Gazprom faced. In a call for “cost optimization at all levels of management,” she said the company needed to cut duplicate functions and bureaucracy.

Ilyukhina has said that for more than 20 years, the number of members has a higher to create a payroll of 50 billion rubles ($ 485 million) and that “funds for relief at work and social benefits of prices of hard work “the increase” of the motivation and progression of the star “while waiting for an audit until February 15.

Forbes reported that Sergey Kupriyanov, another deputy chair of the Gazprom management committee, confirmed the authenticity of the letter but did not comment further.

In 2023, Gazprom faced a loss of 629 billion rubles, its first loss in 25 years. It has also suffered a series of blows—including cuts to its most lucrative market of Europe, which has sought other suppliers when faced with Putin’s aggression in Ukraine.

In informing about the imaginable tasks of Gazprom, 47News said it was the new setback for the company after the New Year’s Expiration of a Transit Agreement with Ukraine and the new sanctions of the United States Treasury on the sector on the sector Electric of Russia, which were announced on January 10. This included. Blocking two primary Russian oil producers, Gazprom Neft and Surgutneftegas, and applying sanctions to the so -called Russian shadow fleet.

Russia tries to diversify exports of pipes to fuel projects based on liquefied herbs through ships (LNG) were also affected. Two main export terminals of LNG, Gazprom Spg Portovaya Limited Libility Company and Cryogas Vysotsk Limited Libility Company, were new sanctions.

Elena Ilyukhina, vice president of the Gazprom Control Committee, said, according to 47News: “The demanding situations faced by the Gazprom organization require . . . Optimization in all degrees of control and production processes. “

Sergey Kupriyanov, vice president of the Gazprom Control Committee, told Forbes: “The document is relevant. We plan to comment. “

Leigh Hansson, a spouse in the Global Reed Smith Regulatory Enforcement Group sanctions, told Newsweek, “Overall, those sanctions constitute a comprehensive effort to stifle a significant source of revenue for Russia, with the goal of putting a strain on the Russian government economically in reaction to its non-stop attack on Ukraine.

Newer U. S. sanctions will put strain on Russia’s power sector, and the country may find it increasingly difficult to sell its herbal gas.

Much depends on the Power of Siberia 2, a 2,700-mile pipeline that the Kremlin hopes will pipe 50 billion cubic meters a year between the Yamal Peninsula in the Arctic and northwest China. But Beijing is trying to drive a hard bargain over the cost of the fuel, and a deal over its construction has yet to be reached.

Brendan Cole is a journalist for Newsweek in London in the United Kingdom. Its target is Russia and Ukraine, specifically the war introduced through Moscow. It also covers other geopolitical spaces, adding China. Brendan joined Newsweek in 2018 from International Business Times and, as well as English, knows Russian and French. You can tap Brendan by emailing b. cole@newsweek. com or follow him on his X @BrendanmarkCole account.

Brendan Cole is a Newsweek Senior News Reporter based in London, UK. His focus is Russia and Ukraine, in particular the war started by Moscow. He also covers other areas of geopolitics including China. Brendan joined Newsweek in 2018 from the International Business Times and well as English, knows Russian and French. You can get in touch with Brendan by emailing [email protected] or follow on him on his X account @brendanmarkcole.

Leave a Reply

Your email address will not be published. Required fields are marked *