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«SIBUR» LLC is the managing organization of PJSC «SIBUR Holding».

117218, Moscow, Krzhizhanovsky st., 16/1

SIBUR to Cut Jobs as Part of the Management Company Optimization

SIBUR has resolved to optimize the staffing level of the management company SIBUR LLC to cut the administrative costs and impel executives to a more careful labor budgeting. All the optimization measures are aimed at the increase of SIBUR operational efficiency and competitiveness on domestic and international markets.

President Dmitry Konov said: «SIBUR is adopting standard codes of management both for local enterprises and central office of the holding. Among other things, this refers also to the management of the personnel resources».

The first step would be cutting 10% of jobs at SIBUR LLC in 2008 through the elimination of backup job duties, redistribution of functions between the central office and regional enterprises, and abolishing of current vacancies. The company would shed 4% of the manning table as early as February.

This being the case, the central office keeps increasing the work load and the number of investment projects.

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Anna Lebed

International Media Relations

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