US EditionGazprom considers record job cuts as Ukraine war ravages finances
- Gazprom is considering large-scale job cuts as it faces dwindling revenues due to sanctions after President Vladimir Putin's invasion of Ukraine.
- The company may reduce staff from 4,100 to 2,500, according to Elena Ilyukhina's proposal to CEO Alexey Miller.
- In 2023, Gazprom reported a loss of 629 billion rubles, marking its first loss in 25 years.
- The latest U.S. sanctions are expected to further pressure Russia's energy sector, making it harder to sell natural gas.
40 Articles
40 Articles
Gas sales more than halved since 2022, while Moscow's wheat production has fallen by 20%
Russian state-owned company Gazprom is cutting hundreds of jobs at its headquarters due to revenue shortfalls, according to an internal memo
Russia's energy giant is planning to cut 40% of its HQ staff as Moscow's war snatches away its Western customers
A letter from a member of Gazprom's board sent a letter to CEO Alexei Miller, pictured on the left, requesting for a 40% cut to staff at the company's St. Petersburg headquarters.ALEXANDRE ZHOLOBOV/POOL/AFP via Getty ImagesRussia's state-owned gas giant is mulling a sweeping cut to its managing staff in St. Petersburg.A letter from Gazprom's board to its CEO suggested layoffs of 40% for its headquarters amid "challenges."The letter said wages am…
Due to the war in Ukraine, Gazprom's cash flow is decreasing, and the Russian energy group may lay off nearly 1,600 people.
According to a leaked report, up to 1,500 people could be laid off to cut expenses.
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