Posted on 01/13/2025 11:20:07 AM PST by marcusmaximus
Russia's natural gas giant Gazprom may slash staff numbers as it faces dwindling revenues amid sanctions imposed following President Vladimir Putin's invasion of Ukraine.
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In December, Elena Ilyukhina, a deputy chair of Gazprom's management committee, sent a proposal to CEO Alexey Miller to reduce staff from 4,100 to 2,500 at the firms' central office and St. Petersburg branch, according to the 47news telegram channel.
On Monday, the outlet posted an image of the document, in which Ilyukhina described the challenges Gazprom faced. In a call for "cost optimization at all levels of management," she said the company needed to cut duplicate functions and bureaucracy.
Ilyukhina said that over the past 20 years, staff numbers had risen to create a payroll of 50 billion rubles ($485 million) and that "funds from cutting labor costs and social benefits" would be redirected to increasing "the motivation and development of staff," pending an audit by February 15.
Forbes reported that Sergey Kupriyanov, another deputy chair of the Gazprom management committee, confirmed the authenticity of the letter but did not comment further.
In 2023, Gazprom faced a loss of 629 billion rubles, its first loss in 25 years. It has also suffered a series of blows—including cuts to its most lucrative market of Europe, which has sought other suppliers when faced with Putin's aggression in Ukraine.
In reporting Gazprom's possible job cuts, 47news said it was the latest setback for the firm following the expiration on New Year's Day of a transit deal with Ukraine
(Excerpt) Read more at newsweek.com ...
GPT makes it clear LNG export terminals commonly flare gas. All exporters do this.
It will arise from impurities in the gas as the cryo-cooling process detects them. Best to remember what is going on. Gas from deep underground flows to pipelines above and then onward. The flow of gas from underground is tapping rock around the well and its permeability defines how much flows. There is no law of the universe that says the rock is all identical from this mile to that mile. It’s been down there millions of years grinding back and forth making powder.
Which gets in the gas that flows. When it arrives at the terminal, flare that batch away until the flow is from cleaner rock.
That total btw is about 0.3%, not 0.5%. Europe consumption has fallen but not that far.
yeah it’s all over :)
Does ukruined even have any power anymore? :)
Rather have layoffs than a country that looks like bed, frozen, useless swiss cheese.
Next one over from Uranus.
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