Russia faces autumn wave of layoffs

Russians are bracing for a new wave of layoffs this autumn as companies struggle with rising costs and declining demand.

According to a survey by Rabota.ru and SberPodbor, one in ten employers is already preparing staff reduction plans. Meanwhile, only a quarter of companies intend to hire new employees — half as many as a year ago, Caliber.Az reports via Russian media Telegram channel. 

The sectors most at risk include construction, retail, consulting, raw materials extraction, and mechanical engineering. Analysts note that businesses are finding it increasingly difficult to balance growing expenses and higher taxes while also being forced to raise wages.

The shake-up in the labour market comes against the backdrop of record-low unemployment in Russia, raising concerns about potential long-term economic imbalances.

By Sabina Mammadli