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Gazprom Faces $12.89 Billion Loss, Plans 1,500 Job Cuts

3/20/2025

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Summary

Story summary

In 2024, Gazprom faced a staggering net loss of $12.89 billion, deepening its financial woes after a $7.6 billion loss in 2023. The company's struggles, driven by plummeting share prices and rising taxes, have prompted plans to cut 1,500 jobs, earning it the grim title of Russia's most unprofitable company.

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Story summary

In 2024, Gazprom faced a staggering net loss of $12.89 billion, deepening its financial woes after a $7.6 billion loss in 2023. The company's struggles, driven by plummeting share prices and rising taxes, have prompted plans to cut 1,500 jobs, earning it the grim title of Russia's most unprofitable company.