MOSCOW, Oct 20 (Reuters) - Russia's VSMPO-AVISMA
, the world's biggest producer of titanium, said on
Monday that it plans to switch to a four-day working week for
some employees not directly involved in production.
"It is planned to transfer some employees who are not
involved in key production processes, mainly administrative
staff, to a four-day working week," the company said in a
statement to Reuters.
It said the move was "aimed at preserving the highly
qualified staff of the enterprise and maintaining operational
stability." The company did not say for how long the measures
would be in place.
"This is not an easy decision, but it allows us to
retain our team and prepare for the market recovery. We consider
this as a temporary measure and will offer additional
professional training opportunities to employees," it said.
Reuters reported on October 9 that some of Russia's biggest
industrial companies were putting employees on furlough or
cutting staff as the war economy slows, domestic demand stalls
and exports dry up.
VSMPO, or the Verkhnaya Salda Metallurgical Production
Association, dates its history to 1933 when it was created to
supply aluminium and aluminium alloy for the Soviet Union's
aircraft-building industry.
Before the start of what Moscow calls its special military
operation in Ukraine, VSMPO-AVISMA supplied titanium to Boeing ( BA )
and Airbus. Canada relaxed sanctions in 2024 to allow Airbus to
use titanium from Russia.
"The company will continue to fulfil all obligations to
customers and partners, ensuring high-quality products and
maintaining its position as a leader in the global titanium
market," VSMPO-AVISMA said.