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Rosneft will lay off a quarter of its headquarters due to sanctions

Rosneft will lay off a quarter of its headquarters due to sanctions

September 5, 2014

[China paint information] it was reported in the early morning of September 5, Beijing time that the Russian businessperson reported on Thursday that the sanctions measures taken by western countries had affected Rosneft, The company will lay off a quarter of its employees at its administrative headquarters in Moscow

the source said, "the company will eliminate 20 workpieces, which can be easily placed on the workbench. Percent to 25 percent of its employees, about 1000 people." The business man also said that the number of employees of Rosneft headquarters in Moscow has increased significantly in the past few years, especially after the completion of the US $55billion acquisition of rival TNK-BP in 2013

Rosneft said that it must be reinforced. The person denied that it had plans for "large-scale layoffs", but admitted that "the company is committed to reducing expenses, including the optimization of employee levels"

the United States has targeted Rosneft as a target of sanctions, prohibiting the company from conducting financing activities other than short-term financing through the U.S. market. The company plays an important role in the Russian oil industry, and Igor Sechin, the company's CEO, is also regarded as President Putin's close Japanese secret ally

the US sanctions have also damaged the company's financial situation. Rosneft recently proposed to the government to refinance the $45billion debt accumulated in the process of becoming Russia's largest oil company

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