Finance

The nation’s largest employer, UZ cut its staff by 3% last year, to 243,387

Tuesday, June 29, 2021

. The company pays an average monthly wage of $409 – 18% below the national average. UZ’s level of debt is $1.5 billion which is owed to financial institutions including the EBRD, Oschadbank, Ukrgasbank, Sberbank and Alfa-Bank. At a government forum on June 15, Zelenskiy said of UZ: “They are completely bankrupt.” The President said he is tasking Oleksiy Kubrakov, the new Infrastructure Minister, to bring the railroad out of bankruptcy.

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Tuesday, June 29
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A major US investor in Ukraine, Richard A. Deitz, says UZ is ignoring Supreme Court rulings to avoid negotiating a settlement of a $300 million debt.

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UZ losses extended into the first quarter of this year, suffering a $62 million loss for Q1

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