MOSCOW (Reuters) -Russia's VSMPO-AVISMA, the world's biggest producer of titanium, said on Monday that it plans to switch to a four-day working week for some employees not directly involved in
VSMPO-AVISMA Implements Four-Day Work Week for Non-Production Staff
VSMPO-AVISMA's New Work Schedule
MOSCOW (Reuters) -Russia's VSMPO-AVISMA, the world's biggest producer of titanium, said on Monday that it plans to switch to a four-day working week for some employees not directly involved in production.
Reasons for the Change
"It is planned to transfer some employees who are not involved in key production processes, mainly administrative staff, to a four-day working week," the company said in a statement to Reuters.
Impact on Employees
It said the move was "aimed at preserving the highly qualified staff of the enterprise and maintaining operational stability." The company did not say for how long the measures would be in place.
Future Outlook
"This is not an easy decision, but it allows us to retain our team and prepare for the market recovery. We consider this as a temporary measure and will offer additional professional training opportunities to employees," it said.
Reuters reported on October 9 that some of Russia's biggest industrial companies were putting employees on furlough or cutting staff as the war economy slows, domestic demand stalls and exports dry up.
VSMPO, or the Verkhnaya Salda Metallurgical Production Association, dates its history to 1933 when it was created to supply aluminium and aluminium alloy for the Soviet Union's aircraft-building industry.
Before the start of what Moscow calls its special military operation in Ukraine, VSMPO-AVISMA supplied titanium to Boeing and Airbus. Canada relaxed sanctions in 2024 to allow Airbus to use titanium from Russia.
"The company will continue to fulfil all obligations to customers and partners, ensuring high-quality products and maintaining its position as a leader in the global titanium market," VSMPO-AVISMA said.
(Reporting by Anastasia Lyrchikova; editing by Guy Faulconbridge and Mark Trevelyan)
