MOSCOW (Reuters) -Russian tank and railcar maker Uralvagonzavod will move part of its civilian-sector staff to a four-day working week amid weakening demand, the company's press service told Russian
Uralvagonzavod Implements Four-Day Work Week for Civilian Staff
Impact of Economic Changes on Uralvagonzavod
MOSCOW (Reuters) -Russian tank and railcar maker Uralvagonzavod will move part of its civilian-sector staff to a four-day working week amid weakening demand, the company's press service told Russian media on Friday.
Company's Response to Market Fluctuations
The move comes as Russia's biggest industrial companies, including automakers, mining and metallurgical companies, are putting employees on furlough or cutting staff as the war economy slows, domestic demand stalls and exports dry up, sources and companies have told Reuters.
Broader Trends in the Russian Industrial Sector
"Despite temporary fluctuations in the railcar market, Uralvagonzavod continues stable operations thanks to its diversified production," the company said, without specifying how many employees would be affected.
Furloughs and Staff Reductions
Uralvagonzavod is a part of the state-owned conglomerate Rostec. It did not respond to a Reuters request for comment when asked about the reported change.
Railway Freight Volume Decline
The railways sector, which state mining and oil industries heavily depend on, has contracted this year: railway freight volumes in Russia fell 6.7% year-on-year in January–September to 830.2 million metric tons.
(Reporting by Gleb Stolyarov; Additional reporting by Darya Korsunskaya and Anastasiya Lyrchikova; Editing by Louise Heavens)
