Evraz, the top steelmaker in Russia is considering slashing working days to 4 days a week at parts of its ZSMK plant which is one of Russia's largest mills. The sluggish demands for steel together with the approaching slow summer season are reported to be the factors of the consideration to cut working days. The ZSMK plant produced 7.3 million tonss of steel and 6.3 million tons of rolled products in 2012. It is reported that Evraz is looking into cost reduction by either cutting working days or cut workers' pay. In 2012, Evraz posted a net loss of US$335 million compared to over US$400 million in profit in 2011.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65105&division=A9
