Around 200,000 Russian Jobs At Risk Following Exit Of Foreign Companies, Moscow Mayor Says

Around 200,000 people are at risk of losing their jobs in the Russian capital following foreign companies leaving the country, Moscow Mayor Sergey Sobyanin said in a blog post Monday.

Authorities will continue to implement plans in order to support workers at risk of being unemployed, setting aside 3.36 billion rubles ($41 million) for these plans, Sobyanin said.

“We continue to implement the plan to improve the sustainability of the capital’s economy. As planned, last week we approved the program to support employees at risk of dismissal. Taking into account subsidies from the federal budget, 3.36 billion rubles will be allocated for its implementation. First of all, the program is addressed to employees of foreign companies that have temporarily suspended their activities or decided to leave Russia. According to our estimates, about 200,000 people are at risk of losing their jobs,” Sobyanin wrote.

The employment assistance plan includes personnel training, employment in temporary and public works and incentives for organizations and firms who employ these workers, he added.