Igor Shuvalov will cut Vneshekonombank's staff

The state corporation will cut staff by half for 900 people, which will give it a saving of 3.5 billion rubles a year. Only last year VEB's losses amounted to 287.7 billion rubles, and in the last four years - more than 750 billion rubles.
Vnesheconombank (VEB) plans to cut to half the staff, or about 900 people. Also, the state corporation intends to almost completely get rid of the park of official cars. Thus, VEB's new management expects to cut costs in order to improve financial results.

On a large-scale staff reduction in VEB told Kommersant two sources close to the state corporation. According to them, the number of employees is planned to be reduced to 1 thousand people. The cuts will affect employees of all levels, will not be one-off, but gradual, so that workers have time to decide on their future. In this case, according to one of the interlocutors of Kommersant, the corresponding plans were developed under the former head of VEB, Sergei Gorkov, who intended to cut about 350 people. Employees from this list are likely to leave the state corporations first. The new head of VEB Igor Shuvalov decided to accelerate these plans in order to reduce the costs of VEB.

This is inevitable, - says one of the sources. "If we talk about the productivity of labor, then all work in VEB can do about a thousand people."

Abbreviations will affect the central apparatus, but in the long term, optimization will occur in the subsidiaries of the state corporation, one of the interlocutors of Kommersant said. However, specific plans to reduce costs in the subsidiaries of VEB, he said, will be after optimization in the head structure.

As explained in the VEB, the decision to reduce staff and the number of employees was "made on the basis of an audit of the current state of the state corporation, involving internal expertise and specialists." The state corporation specifies that, since VEB significantly changes the approach to business and problem assets, "some functions may become redundant for the development institution".

As explained in the corporation, the reduction will be at the level of 40-50% of the staffing. At the same time, state corporations hope that "a reduction in the number of staff will not only save on wages, but also on the associated costs - leasing space, transportation costs, etc.". According to VEB's quarterly report, the average number of employees in 2017 is 1.8 thousand people. The wage fund amounted to 7.1 billion rubles.

Earlier this week, Prime Minister Dmitry Medvedev promised to additionally capitalize Vnesheconombank. However, the Finance Ministry said that the state corporation will be able to count on support after reducing VEB's internal costs, as well as a detailed justification for what money will be spent on. In late April, VEB's first deputy chairman Nikolai Tsekhomsky said that the state corporation is going to attract a deposit of the Ministry of Finance in the amount of 200 billion rubles. in the second quarter of 2018.