Analysts of the Central Bank announced the plans of some companies to reduce employees – RBC

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Central Bank analysts: About 28% of industrial companies in Russia plan to lay off employees

More than a quarter (28%) of industrial enterprises in Russia intend to optimize the state, follows from a survey of the analytical department of the Central Bank. On the other hand, 27% of companies plan to raise salaries to retain employees.

Photo: Igor Onuchin / TASS

About 28% of industrial enterprises said they intend to optimize staff and reduce workers in the future. This is stated in the published analytical note “Changing business processes after the COVID-19 pandemic: results of a survey of enterprises”, prepared by analysts of the Central Bank.

The respondents included industrial enterprises (they do not include the financial sector, IT, retail, and the fuel and energy complex). In total – more than 480 companies. However, the survey was conducted in May-June 2021.

Many industrial enterprises in 2020-2021 actively hired personnel in the face of a shortage of personnel, the Central Bank’s Research and Forecasting Department notes. However, in the future, “companies intend to optimize job responsibilities in order to reduce the number of employees, as stated by 28% of respondents,” note the authors of the note. This will most likely come at the expense of less productive workers, the report says.

The highest proportion of those who are ready to optimize staff is among companies whose revenue has not recovered to pre-pandemic levels by the third quarter of 2021, the Central Bank notes. Among them, 38% of respondents answered this way. Of those companies that were able to increase revenue to previous levels, 19% are thinking about laying off employees.

According to analysts of the Central Bank, staff optimization will reduce the costs of employers, including those related to ensuring the safety of personnel, and increase the efficiency of the workforce.

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