‘Our company has already started making the human resources more efficient, and we are planning on making about 10% of our staff redundant. Then, we’ll also have to switch to a one-shift mode, which is expected to eliminate all the additional expenses caused by having to pay for working extra hours,’ LSR Group’s General Director Igor Levit said in the course of his interview to Bloomberg and Reuters.

‘We are already cutting down on managerial and administrative expenses,’ he added.

LSR Group runs enterprises and offices in several Russian Federation’s constituencies, including Sverdlovsk Region.