Government Reductions
The main victims of the crisis in Russia will automakers, retailers, organizations in the construction sector and real estate, banks and financial institutions, predicts In his review Rosbank included in the top 10 largest Russian banks. 'In times of global economic slowdown kriziza domestic economy will be almost twice as fast as its trade surplus will actively decline '- said Rosbank. Baikal Pulp and Paper Mill (BPPP) in a near future will have to reduce more than 10 percent of workers said at a news conference on Monday, chairman of the union bppm Alexander Shendrik. Guide bppm recently verbally informed the head of departments of the need to select the employees laid off, and the official order may be issued in the next 2-3 days, he said. Since early October Combine suspended work because of unprofitable production, and difficulties with the sale of cellulose. One of the largest Russian producer of cement – 'Eurocement' – reduces the cost of staff at most of its plants in anticipation of further fall in the value of cement. 'We do not know how […]