Once pillar of Russian might, steel sector employing 700,000, now reels under lost export under sanctions
Key steelmakers report steep declines: MMK’s steel output down 18%, TMK’s pipes down 22%, and Mechel sales off 11%.
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staff cuts
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Russian gas giant Gazprom plans to reduce central office staff by 40%
The corporation evaluates substantial workforce cuts at Saint Petersburg headquarters following reduced European market access due to Russia's invasion of Ukraine.