Record losses: 'Gazprom' prepares mass layoffs and property sales.

'Gazprom' plans layoffs and asset sales due to a decline in exports to Europe

The company 'Gazprom' plans to reduce its workforce and sell assets due to a significant decline in exports to Europe, reports Reuters.

According to the report, 'Gazprom' has already cut the staff of its export division and is trying to sell a building. In addition, the company plans to lay off up to 40% of employees at its headquarters located in the 'Lakhta Center' in St. Petersburg.

One source in the company reported that earlier 'Gazprom Export' was the most successful division; however, it is now significantly smaller and lacks influence.

According to Reuters, a small number of employees (formerly 600 workers) remain in the company 'Gazprom Export'. They are dealing with lawsuits worth over 18 billion euros filed by former European clients.

Moreover, the company is considering the sale of the office of another division, which was built in 2014 in the style of an Italian palace, as well as other elite properties.

Plans to lay off 1500 jobs at 'Gazprom's' headquarters have already been approved by the chairman Alexey Miller. There has been no official announcement about the layoffs yet, but employees have been asked to prepare presentations to keep their jobs.

In 2023, 'Gazprom' suffered record losses amounting to 629.1 billion rubles. Although the company recorded a profit of 989.9 billion rubles over the 9 months of the previous year, the gas business continues to incur losses.

It was previously reported that 'Gazprom' lost a billion-dollar lawsuit to a Czech energy company.