Russia’s UMMC unit to cut 40% of staff on poor market situation

MOSCOW, Mar 30 (PRIME) -- Vladimir Region-based Kolchugino non-ferrous metal plant, part of Russia’s Urals Mining and Metallurgical Company (UMMC), plans to lay off more than 40% of its staff due to an unfavorable market situation, according to documents prepared for the labor disputes commission, seen by PRIME on Wednesday.

A spokesperson for UMMC said that the facility will be reducing its output to about 3,600 tonnes of rolled goods and will keep a consumer goods’ department. “Consequently, about 300 jobs will become idle.”

He said that a significant part of people will be hired by Elektrokabel, another unit of UMMC in the town of Kolchugino, as well as by other industrial producers in the region, mainly, by a neighboring plant producing cables.

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