Experts estimate how many will face pay cuts during crisis

Credit: Igor Rusaak | RIAN

Workers at over 50% of Russian companies have already seen a decrease in their wages, and the situation is going to degrade, if anything, HeadHunter analysts concluded following a survey.

About every second employer said they had to reduce their payroll fund with the onset of the current crisis. This answer was given by 56% of respondents, while only 10% said their employees’ compensations increased during this period. The salaries of 34% of respondents remained unchanged.

Almost a third of the survey participants are confident that work compensations will go down in the next six months. These findings were reported by HeadHunter Research Director Maria Ignatova.

“We have the bigger share of pessimists who believe the payroll will decrease rather than increase,” Ignatova said.

Only 8% of survey participants strongly believe wages will increase.

These assessments were announced during the online meetup We are Legends: How to Survive in Post-Pandemic Labor Market organized by Realweb.

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