“Gazprom’s drastic European cuts”

Russian gas and oil producer Gazprom plans to axe nearly every second job at its German subsidiary, Jürgen Flauger writes in Handelsblatt Global Edition. Apart from cutting Berlin staff from 230 to 130, Gazprom Germania was also “replacing German leadership with Russian managers” to ensure more direct communication with Gazprom’s Moscow headquarters, Flauger writes. “It’s our priority to create synergies and to reduce parallel structures,” Gazprom told Handelsblatt. However, Flauger argues that due to the “dramatic fall” in oil and gas prices the world’s largest natural gas producer could “no longer afford all of its inefficiencies”.

Read the article in English here.

See the CLEW factsheet Germany’s dependence on imported fossil fuels for background.