Kazakh oil workers to face shrinking salaries, layoffs
Kazakh Energy Minister Vladimir Shkolnik said Nov.23 that oil and gas salaries will be reduced by 31 percent in the immediate future, the Kazinform news agency reported.
He made the remarks talking about the current situation in the oil and gas sector at the session of the government.
"In 2015, gross income of Kazakh subsoil users has fallen sharply [by 52 percent], compared to 2014," he said. "Plus, oil has recently dropped to $50 per barrel. It is not hard to predict that oil salaries will decline by 30-31 percent."
Minister Shkolnik also said that up to 40,000 oil workers are likely to face layoffs for the same reasons.
"If the [oil] prices remain at the current level, up to 40,000 oil workers in Kazakhstan can lose their jobs," he said.