Russia's gas giant Gazprom struggles
Since Moscow’s full-scale invasion of Ukraine in 2022, Russia’s economy has surpassed expectations. But some experts say this image of resilience is a mirage crafted by the Kremlin.
Gazprom is considering cutting about 40% of its headquarters staff - more than 1,500 job cuts - as the Russian gas giant grapples with the loss of most of its sales to Europe, state news agency TASS reported on Monday.
Gazprom's board is proposing that about 1,600 managers and administrators be cut from its headquarters at St. Petersburg, citing recent challenges.
Gazprom provided about 7 percent of Russia's federal budget in 2021, the year before Putin's full-scale invasion. By 2023, it was estimated to provide about half of that as sanctions, reduced production and historic losses hit the sector. Large-scale layoffs could add to the pressure on Russia's key revenue generator for the war.
In the days before former President Joe Biden left office, the U.S. announced two new rounds of sanctions against Russia, including expansive
Russia's Gazprom is considering cutting hundreds of administrative jobs, a company spokesman confirmed to AFP on Monday, as the gas producer reels amid the loss of key exports to Europe.
Russia has long used its plentiful energy resources as a tool to exert control over the region, where independence from Russian energy is tied to political sovereignty.
Tennis Australia says it has advised its players against competing in Russia following reports that Davis Cup team member Thanasi Kokkinakis featured in an exhibition in St.
Russia's energy giant Gazprom is considering cutting hundreds of administrative jobs, a company spokesperson said on Monday, as the gas producer
The TurkStream gas pipeline is the last one supplying Russian resources to Europe. Reports of its possible destruction have stirred up concern not only in the Kremlin but also in Budapest and Bratislava.
The TurkStream gas pipeline is the last one supplying Russian resources to Europe. Reports of its possible destruction have caused concern not only in the Kremlin but also in Budapest and Bratislava.