MMK goes for pay rise

President of MMK Management Company Viktor Rashnikov signed an order for pay rises at Magnitogorsk Iron & Steel Works (ĚĚĘ).

The increase in wages and salaries will go along the wage-growth program adopted by the company. For one, the pay of workers, managers, white-collar experts, and clerks will go up 10%. This is the second time the enterprise’s employees have got a pay rise this year, as the wages and salaries went up 10% in March 2010. All in all, MMK is expected to spend about 1 billion RUR on wage increases in the year 2010.

‘Even now, when times are still a bid hard, we manage to raise our workers’ pay. I’m sure this increase will both raise their actual income and motivate them; this is also a good way to make the job of a metallurgist more prestigious,’ says Viktor Rashnikov.

The average monthly pay at the enterprise amounted to 33,100 RUR in January-August 2010. Raising this pay on a regular basis means the workers’ earnings leave the inflation rates behind, MMK reports.

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