financetom
Business
financetom
/
Business
/
Russian titanium producer VSMPO-AVISMA to cut working week for some staff
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Russian titanium producer VSMPO-AVISMA to cut working week for some staff
Oct 20, 2025 2:38 AM

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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved