The Russian steel producer Amurmetall has announced that it has closed operations at its flat rolling shop and at its bent steel section workshop, considering the seasonal factors in the steel market.
In line with the shutdown of these facilities, Amurmetall has decided to temporarily lay off 960 of its workers currently not involved in the production process until February 2009, paying them two thirds of their normal salaries during this period.
On the other hand, the rest of the company's staff, including administration, is to start working a four-day week.
Currently Amurmetall does not plan permanent layoffs of employees.