Metalloinvest has announced an increase in payments to employees of the company's business vehicles from March 1, Metalloinvest informed.
The increase will amount to 5%, with about RUB 1.9 bn allocated to the increase, including social security contributions.
The majority of these funds will be allocated to a guaranteed 4% salary increase and the remaining 1% will be used to increase the volume of the existing payments.
The salaries of employees who are not included in the performance management system will be increased from March 1, while salaries for those included in the system will be increased from April 1.
Metalloinvest (tax number: 7705392230) is a leading producer and supplier of iron ore products and direct reduced iron in the global market, one of the regional producers of high-quality steel. The company possesses the world's largest iron ore deposits under development and has achieved one of the lowest cost of IORM production values. 100% of the company's shares are controlled by USM Holding Company LLC whose largest beneficiary is Alisher Usmanov (49%).
