Metinvest raises employee salaries by 10%

From October 1 this year, Metinvest Group will increase the salaries of employees of its Ukrainian enterprises by an average of 10%.

The increase in salary will be felt first of all by qualified repairmen and technologists - their salaries will grow by 15%. Incomes of workers and foremen will increase by 10%, administrative workers - by 7%.

This year Metinvest has already revised the level of salaries: in April, employees' incomes increased by an average of 20%. In general, the Group's expenses for increasing the wage bill in 2018 amounted to about UAH 2.2 billion.

General Director of Metinvest Group Yuri Ryzhenkov:

- We raise wages at enterprises as soon as the financial situation in the company allows. Every year the growth of salaries at Metinvest significantly outstrips the inflation rates in the country. This suggests that we are interested in stable work and income for our employees. Our goal is to raise the level of salaries in the Ukrainian metallurgy. Since we have been successfully working on the international market for a long time, income in Eastern Europe serves as an indicator for us - this is the only way to maintain competitiveness in the labor market.

According to the State Statistics Service of Ukraine, the average wage in the country is UAH 9170, in industry - UAH 9861, in the mining and metallurgical complex (MMC) - UAH 13282. After the increase, Metinvest will earn 73% more than the average in Ukraine, 61% more than in industry, and 20% more than in the mining and metallurgical complex.