Russian energy concern Gazprom is in a difficult situation and is planning scale cuts of staff. According to Reuters, the company intends to fire about 1600 employees from its
head office in St. Petersburg. /nginx/o/2025/01/20/16605688t1ha50c.jpg)
Gazprom’s main office in St. Petersburg. Photo: Anatoly Maltsev
Russian energy concern Gazprom is in a difficult situation and is planning scale reductions in staff. According to Reuters, the company intends to fire about 1600 employees
from its head office in St. Petersburg.
Deputy Chairwoman of the Management Company Elena Ilyukhina suggested to reduce the staff from 4100 to 2500 people to reduce costs.
According to a report published by the German gazette Bild, the crisis in Gazprom demonstrates how Russia’s invasion of Ukraine destroys the economy of the country. The export of gas and oil, which are the financial stability of Russia, is significantly affected.
Gazprom’s net loss in 2023 was 629 billion rubles (about 6.4 billion euros). In 2024 year, despite the projected profit at year-end, the loss of the third quarter was about half billion euros.
Supplies of Russian gas to Europe continue to decline. After the cutoff of transit through Ukraine Russia is left with the only gas pipeline connecting it to Europe, which passes through Turkey.
According to Bild, Russia’s share of Russia’s gas imports to Europe has decreased from 40percent in 2021 year to 8 percent in 2023 year. New US sanctions imposed against Russian energy sector, only exacerbate the situation, affecting keyplayers,suchasGazpromoilandSurgutneftegaz,aswell as183tankers andthe leadinginsurancecompaniesin thecountry.
