A thousand workers at the Sverdlovsk plant had their salaries cut due to downtime.

A thousand workers at the Sverdlovsk plant had their salaries cut due to downtime.

      Nationalized back in 2024, the Serov Ferroalloy Plant (SFP) has put 1,143 employees on idle status.

      The company reported that as part of anti-crisis measures, the plant is suspending the production of low-carbon ferrochrome in melting shop No. 2. Currently, all warehouses are filled. The issue is that the enterprise is facing serious financial difficulties: sanctions restrictions, strengthening of the ruble, declining global demand and prices for products, and the cessation of export supplies. This has led to a shortage of working capital.

      Employees on idle status have been promised to retain payments at two-thirds of their average salary. This regime will last until the end of August, the EAN publication clarifies.

      The enterprise stated that a decision has been made to focus on the production of high-carbon ferrochrome in melting shop No. 1, fully meeting the needs of the domestic market, where there is a significant decrease in demand.

      The production of low-carbon ferrochrome in shop No. 2 has been suspended, and shipments of this product to consumers in the domestic market are being carried out from warehouse stocks.

      Previously, employees of another large Ural enterprise had their salaries cut due to idle times.

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A thousand workers at the Sverdlovsk plant had their salaries cut due to downtime.

The nationalized Serebryakov Ferroalloy Plant (SFP), which was nationalized back in 2024, has put 1,143 employees on standby. The company reported that as part of anti-crisis measures, the plant is suspending the production of low-carbon ferrochrome in the smelting shop No. 2.