MMK increases salary for employees

CEO of MMK Viktor Rashnikov has signed the order about the indexing salaries for employees of the Magnitogorsk Iron and Steel Works (MMK).

Increasing of salaries will start from March 1. It is fulfilled under the approved program of growth of salaries for employees of MMK. In 2010 tariff rates and salaries of employees will grow by 10%. It is the first increasing of salaries on MMK in this year.

If they implement production program, the total increasing of salaries in 2010 should reach 25%. It is planned to conduct additional indexing of salaries of employees by 5% in June and by 10% in September in addition to the March increasing
After the results of MMK in January-February 2010 employees will get a bonus. It will not exceed 50% of the salary of the employee.