OREANDA-NEWS. December 26, 2013. Kondopoga pulp and paper mill (Kondopoga, Karelia, Russia) can reduce 1,500 employees, according to CEO Dmitry Turkevych.

"Our estimates show, that management of plant is ready to ensure the smooth operation of the state at 3.5 thousand employees,” said Dmitry Turkevych.

“Now we employ 5,000 employees. In a pure capitalist business model, we would have done so. But we understand it is wrong to drive on the street a 1,500 people. Capitalist business model does not available here. We understand that in fact we pay for unemployment benefits for 1,500 employees. From whom we refuse, the decision has been made yet. I can only say that the reduction should be carried in the spring, but we did not dare. That's my biggest mistake as a manager," he added.

As early Lesprom Network reported, net loss of Kondopoga increased to 1.82 billion rubles (USD55.7 million) in January-September 2013.