Russia’s Novocherkassk Electric Locomotive Plant plans massive cuts
Published: Mon, 2015-03-16 15:49Novocherkassk Electric Locomotive Plant, one of Russia’s largest producers of electric locomotives, plans to fire up to 900 workers by June, 1 2015, due to cut of orders from its major customer RZD.
At present the plant employs 9,500 people.
According to an official spokerperson of the plant, about 400 people of the cut workers will be employed in one of the subsidiaries of the Novocherkassk Plant, which name is currently not disclosed.
In February Novocherkassk Plant and RZD signed a contract for the supply of 335 sections of electric locomotives, however, there is a possibility that due to the current economic decline in Russia, this project may be revised.