Russian Businesses Take Aim at Employee Bonuses in Cost-Cutting Measure
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Russian Businesses Take Aim at Employee Bonuses in Cost-Cutting Measure – Izvestia
One-third of workers who previously received bonuses reported either a reduction or total loss of bonuses over the last year. The survey found that 20% of respondents noted a decrease in bonus amounts. For one-quarter of those surveyed, bonuses accounted for 10 to 30% of their total take-home pay.
The report, compiled by the HeadHunter recruiting service and the pension fund NPF Evolyutsiya, was obtained by the pro-Kremlin newspaper Izvestia, which reported the findings on Friday.
Almost one-third of workers who previously received bonuses reported either a reduction or total loss of bonuses over the last year, a symptom of the slowing Russian economy.
The survey found that 20% of respondents noted a decrease in bonus amounts, while 9% said payments had stopped entirely.
For one-quarter of those surveyed, bonuses accounted for 10 to 30% of their total take-home pay.
Fifteen percent of workers reported bonuses equal to 10% of their pay, with a similar number of workers reporting that bonuses accounted for 30 to 50% of their income.
Managers, IT specialists, realtors and employees in sales, finance and construction were most likely to experience reduced or canceled bonuses, the data said.