Page 44 - RusRPTMay20

decline by almost RUB4,000 ($55) monthly (compared to 2019). Real salaries may go down to RUB43,500 ($600) per month in average, the research noted.
In the days since a ​non-working holiday​ was declared in Russia due to the spread of the coronavirus, around half of the country’s companies have taken various steps to optimize their activities​, which particularly include wage cuts, Izvestia wrote, citing a poll conducted by the ​Center for Strategic Research​ (CSR). The poll involved 1,000 top managers from Russian companies with yearly revenues from 50mn rubles ($663,700) to over two billion rubles ($26.5mn). According to the survey’s results, one in five businesses have already cut wages and 35% intend to do so in the near future, while another 16% of companies have reduced staff. The CSR added that 54% of companies expected their revenues to fall by about 25%. The worsening financial picture is making many businesses embrace bankruptcy plans. The problem is particularly acute for companies involved in commerce, services and the transport industry.
44​ RUSSIA Country Report​ May 2020 ​ ​www.intellinews.com