Metinvest B.V., one of the key steel producers in Ukraine, aims to secure its cost efficiency. The company has developed a plan which will help it to overcome the current difficult economic situation with minimal losses. In particular, Metinvest will suspend the realization of some investment projects except the critical ones included in its technical strategy and the projects with a sizeable ecological effect, as stated by local media citing official sources.
In addition, according to the sources, the company will undergo optimization aimed at the reduction of fixed and administrative costs. In particular, it is planned to lay off up to 30 percent of the administrative staff and to review the employment policies, SteelOrbis understands. In the meantime, the cost-efficiency plan will not have an impact on the company’s production operations.
