Intel: Russians face mass layoffs this summer

According to Ukrinform, this information comes from the Foreign Intelligence Service of Ukraine.

Labor market experts are warning of these cuts, noting that the key reasons are mounting financial problems in the business sector. Among the main factors are an increasing tax burden, limited access to credit due to high interest rates, and a decline in corporate profits amid falling consumer purchasing power and a general economic slowdown.

According to the agency, some employers are attempting to avoid mass layoffs by reducing the workweek to three or four days. However, such measures are temporary and cannot compensate for deep structural problems. In the absence of economic recovery, businesses will most likely be forced to resort to more radical solutions.

An additional negative factor is the seasonal decline in business activity during the summer, which could accelerate a wave of layoffs across various sectors. This creates a risk of rising unemployment in Russia as early as the coming months.

As reported by Ukrinform, Russia is cutting state credit support for businesses.

Photo: szru.gov.ua