REUTERS - The London-based trading unit of Russia's Gazprom Pao has laid off about 20 percent of its workforce, including at least six directors, the Wall Street Journal reported on Friday.
The job cuts by Gazprom Marketing & Trading include 170 people in London and followed a cost savings review by consultancy Oliver Wyman, the WSJ said, citing two people familiar with the matter. (http://on.wsj.com/2gnGr5q)
Gazprom Marketing & Trading expects a big fall in profits at some of its units this year, the newspaper reported.
Gazprom, which had about 462,400 employees as of Dec. 31, and other oil and gas companies have been hit by a 60 percent slump in oil prices since mid-2014.
Oliver Wyman and Gazprom Marketing & Trading were not immediately available for comment.
(Reporting by Komal Khettry in Bengaluru; Editing by Shounak Dasgupta and Savio D'Souza)
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