Gazprom considers major layoffs amid financial losses
Date
1/14/2025 2:28:43 AM
(MENAFN) Russian energy giant gazprom is reportedly planning significant layoffs at its St. Petersburg headquarters following its first annual losses in 25 years, according to media reports.
On Monday, Gazprom spokesman Sergey Kupriyanov confirmed to Forbes and TASS that a letter by Deputy Chairman Elena Ilyukhina proposing the cuts was authentic but declined further comment. The letter, addressed to CEO Alexey Miller, outlined a plan to reduce administrative staff from 4,100 to 2,500.
Gazprom has faced mounting challenges since the escalation of the Ukraine conflict in 2022. Sanctions from the EU—once its largest market—severely curtailed exports, compounded by the Nord Stream pipeline sabotage in September 2022 and Ukraine’s refusal to transit Russian gas.
In her December 23 letter, Ilyukhina emphasized that Gazprom must address these difficulties by cutting bureaucratic processes, streamlining decision-making, eliminating redundant roles, and fostering a results-oriented workforce.
Despite the confirmation of the document, Gazprom has refrained from offering further details about the proposed restructuring.
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