Sberbank, Russia's largest bank, has embarked on extensive layoffs within its subsidiaries, affecting IT departments across its various services such as Купер (Cooper), МегаМаркет (MegaMarket), СберЛогистика (SberLogistics), and Самокат (Samokat). Reports from both The Moscow Times and CNews indicate the layoffs are primarily targeting IT specialists, with significant percentages of staff set to lose their jobs.
According to sources, the layoffs are being driven by cost-cutting measures and directives from higher management. It has been reported by CNews, citing anonymous sources within Ecom.tech, the umbrella organization managing these subsidiaries, "The layoffs are explained by cost savings and orders from above." This indicates not only the financial rationale behind such drastic measures but also suggests pressures from upper management due to the current economic climate.
The cuts began as early as December 2022, with sources stating the planning for these changes was discussed back as early as autumn during budget planning sessions. A standout figure, Анастасия Кудрявцева, general director of Купер, informed staff about the upcoming challenges through internal communications, stating, "The year will be difficult, and changes are necessary." This correspondence was part of the bank's strategy to prepare employees for the impending cuts.
Reports indicate significant layoffs at Купер alone, where approximately 20% of the 1000 IT employees have been made redundant, equaling about 200 positions. Meanwhile, МегаМаркет is reportedly preparing to cut up to 25% of its workforce. The company has emphasized voluntary departures with substantial severance packages; those affected were offered to leave by mutual agreement, providing options such as receiving two to three months' salary, or remaining for two additional months but receiving only one month’s pay.
These developments come against the backdrop of Russia's precarious economic stability, exacerbated by high inflation rates of 21%, and the difficult trading conditions created following the conflict with Ukraine. Experts have noted the impact of these factors on the profitability of tech companies, leading to inevitable cutbacks within the sector. "The economic instability has caused companies to reconsider the sustainability of their IT expenditures," as articulated by industry analysts discussing the situation.
Within the larger framework of Russian corporate sector layoffs, Sberbank's cuts mirror actions taken by other significant players like Gazprom and VK, with reports indicating they are not alone in these difficulties. VK is facing significant financial losses, incurring massive debts and losses, leading to predictions of more job cuts within the year. Media outlets have reported on how these economic conditions have forced long-standing companies to drastically reduce their workforces, and the situation appears to be exacerbated by record economic metrics.
Sources within the affected companies indicate layoffs may range between 30% to 50% depending on the specifics of each subsidiary, with affected employees feeling insecure about their futures. A former employee of Купер characterized the atmosphere as increasingly uncertain: “Staff are concerned about their job security, and many things remain unresolved.”
Reflecting on the broader impact of these job losses, Анастасия Кудрявцева also remarked somewhat callously, "It's unfortunate to part with employees who are like old valenki [felt boots] sitting unused, but they serve no useful purpose"—highlighting the harsh reality of the situation faced by many IT specialists within the struggling tech industry.
The administrative changes and layoffs at Sberbank may lead to wider repercussions within Russian IT and e-commerce sectors, which are already under pressure. The ripple effect of these job losses will be closely monitored as both employees adapt to these changes and the business environment continues to evolve under constraints imposed by the geopolitical situation.