Gazprom administration may face layoffs due to sanctions
Russian media have reported that the management of Gazprom, a major Russian company, is considering downsizing its central office staff by nearly half in an effort to cut costs.
Before Russia’s full-scale invasion of Ukraine, Gazprom consistently reported significant annual profits. However, sanctions imposed in 2022 have dramatically changed the situation. Over the past two years, Gazprom’s financial reports have revealed billions in losses.
The discussion of such drastic measures indicates that the company’s problems are far more severe than Russian propaganda admits. With each passing day of the war, Russia’s largest corporation faces an increasingly dire financial outlook.
