The year 2022 became ‘worse than the pandemic’ for Russian companies – study

Almost half of the companies cut employees

Last year 2022 in Russia turned out to be more unsuccessful for large companies, according to the HeadHunter research. Three quarters (76%) of the heads of the largest enterprises noted the negative consequences of sanctions, the war against Ukraine, mobilization and other events of 2022 for their business. At the same time, the majority of Russian companies (67%) also stated the negative consequences of the events of 2022.

Almost half of employers, 46%, called 2022 worse than the ‘pandemic’ years of 2020 and 2021. They believe that the events of 2022 affected them more than the coronavirus and quarantine.

Another 23% said the effect was about the same, and only 12% said the pandemic had a greater impact on their business.

In total, 33% of Russian companies cut staff this year. At the same time, only 22% of enterprises did so last year. Most often, large companies (more than a thousand employees) reported a decrease in the number of employees. Almost half of such employers – 44% – reduced staff.

‘Sanction pressure has hit industrial enterprises the hardest, which traditionally employs a large number of employees. Problems with supply, replacement of spare parts, reduction in the number of orders naturally led to a decrease in the number of employees,’ analysts explain.

Meanwhile, it became known that the Kremlin intends to put pressure on large companies to fill the military budget, including Gazprom.

Source moscowtimes
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