Almost one third of Russian companies announced salary cuts

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Salary plans of Russian business announced at the beginning of the year turned out to be far from reality, as it was discovered by the middle of spring. Almost every third company cuts employees’ salaries, the survey showed.

In the first quarter of 2015 Russian business┬áhad to act more vigorously than it was expected in January, showed the survey conducted by “Salary Data Bank HeadHunter”. In the second round of survey (taken place from 23 to 31 March) 481 companies participated, while in the first round (from 20 to 27 January) there were 719 of them.

At the beginning of the year 47% of the companies did not plan to make any salary adjustments, but by the middle of spring this number dropped to 40%. The number of companies planned to increase salaries dropped as well. On the contrary, the number of companies to revise their plans for the optimization of salaries increased from 21% to 29%, showed the survey.

The most noticeable drop happened in manufacturing (down 55% of the companies instead of the expected 38%) and sales (62 instead of 47%).

Also, the scale of salary reduction was revised. More companies trimmed salaries by 20-30% than expected. While such plans were having only 13% of companies, in fact it happened in 17% of organizations. 14% of the companies cut wages more than by one third.

Source: http://top.rbc.ru/economics/09/04/2015/55267fd09a7947e81040e8f3