24 February 2014 | 18:12

Kazakhmys to increase wages of its workers

©kazakhmys.com

Kazakhmys Plc has announced a wages raise for its industrial personnel, Tengrinews reports citing the Kazakhstan Stock Exchange (KASE) website. Kazakhmys has announced a 10% raise in wages of its industrial personnel starting from April 1, 2014. The decision was made in response to the address of Kazakhstan President's address made on February 14, 2014. After Kazakhstan devalued its national currency by nearly 20% in one step on February 11, President Nazarbayev called the country's large companies to raise salaries of their personnel, especially those workers who are involves in the actual production process, not the office workers, by 10%. Kazakhmys says that it has been one of the few companies in Kazakhstan that have repeatedly offered a salary raise to their workers over the past years. For example, in 2012 alone salaries of Kazakhmys workers were increased by 30% in average. "The adjustment of tenge exchange rate has spired a lot of concerns amid our personnel; we hope that the measures we take will be a tangible support to their families. Nearly 55 thousand people are employed at our Kazakhstan-based enterprises. More than a third of them are involved in the actual production, and the company always follows the fair compensation policy in treating its production personnel," Chief Executive of Kazakhmys Oleg Novachuk said. Earlier, KazZinc, ENRC and ArcelorMittal Temirtau announced a 10% increase of salaries for their inductrial employees starting from April 1, 2014.

Kazakhmys Plc has announced a wages raise for its industrial personnel, Tengrinews reports citing the Kazakhstan Stock Exchange (KASE) website. Kazakhmys has announced a 10% raise in wages of its industrial personnel starting from April 1, 2014. The decision was made in response to the address of Kazakhstan President's address made on February 14, 2014. After Kazakhstan devalued its national currency by nearly 20% in one step on February 11, President Nazarbayev called the country's large companies to raise salaries of their personnel, especially those workers who are involves in the actual production process, not the office workers, by 10%. Kazakhmys says that it has been one of the few companies in Kazakhstan that have repeatedly offered a salary raise to their workers over the past years. For example, in 2012 alone salaries of Kazakhmys workers were increased by 30% in average. "The adjustment of tenge exchange rate has spired a lot of concerns amid our personnel; we hope that the measures we take will be a tangible support to their families. Nearly 55 thousand people are employed at our Kazakhstan-based enterprises. More than a third of them are involved in the actual production, and the company always follows the fair compensation policy in treating its production personnel," Chief Executive of Kazakhmys Oleg Novachuk said. Earlier, KazZinc, ENRC and ArcelorMittal Temirtau announced a 10% increase of salaries for their inductrial employees starting from April 1, 2014.

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