Russian steel-maker Evraz Group said 1,982 workers could be laid off by April as it reduces production in the face of the financial crisis. Evraz, which is part-owned by billionaire Roman Abramovich, said the cuts would be at its plants in the Ural Mountains.
Evraz, in which billionaires Alexander Abramov and Alexander Frolov also hold stakes, has joined industry rivals in cutting production and jobs at its facilities across the globe as the world financial crisis cuts demand for steel.
Evraz is Russia’s second-largest steel maker after Severstal and makes more steel within Russia than any other company.
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