VKG rehires nearly 300 people

VKG Kiviter refineries in Ida-Viru County. (VKG)
10/5/2016 4:48 PM
Source: BNS
Category: Business

Viru Keemia Grupp (VKG), the Northeastern Estonia-based shale oil producer that announced nearly 500 layoffs at the beginning of this year, has reemployed nearly 300 people and does not rule out additional hirings if the market situation stabilizes.

"Since the decision to relaunch two of our oil plants that use Kiviter technology was made in July, we have employed nearly 300 people," Irina Bojenko, a spokesperson for VKG, told BNS. She added that most of the hires have been operators and engineer-technical personnel at VKG Oil as well as miners at the Ojamaa mine.

The temporary reduction in production volumes due to low oil prices and the reorganization of the work process from January to July affected 445 employees of the group, Bojenko said. While over the summer the company planned on rehiring 350 people, they decided to err on the side of caution for now and hire just 300.

"Some subsidiaries have fewer people than before, but let's hope that the market will stabilize and then their number can grow once again," she added.

Citing a continuous significant decline in global oil prices, VKG announced at the beginning of 2016 that it would be laying off approximately 500 employees; the total number eventually laid off ended up being somewhat smaller.

Editor: Aili Vahtla

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