Thousands to lose their jobs in 2009
Published: 11 December, 2008, 17:39
Up to 250,000 jobs could be lost in Russia in 2009 according to Mikhail Shmakov, the head of the Federation of Independent Trade Unions of Russia.
breakingnews
Thursday saw Russian stocks on the receiving end of yet another beating, as the overnight selloff on Wall Street washed over Asia, combining with plummeting crude prices to provide another pummeling for Russian investors. The only upside was that after a
US investment bank Morgan Stanley is shedding one in four jobs at its Russian office in a bid to cut costs, Russian daily Vedemosti reports.
Russia’s commodity-based economy is struggling as oil prices plunge 70% from record levels in July, and experts anticipate a sharp rise in unemployment early next year.
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The number of registered unemployed in Russia will reach 2.2 million this year - according to the government's forecast.
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Published: 11 December, 2008, 17:39
Up to 250,000 jobs could be lost in Russia in 2009 according to Mikhail Shmakov, the head of the Federation of Independent Trade Unions of Russia.