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Russian Reports Say TASS Plans Deep Job, Salary Cuts

Russian media report that state news agency TASS will dismiss at least one-fifth of its staff next month and reduce salaries by 20 percent in an effort to cut costs.

The financial daily Vedomosti reported on January 22 that the planned cuts are motivated by reduced financing and concerns about further economic troubles in Russia.

Vedomosti quoted TASS director Sergei Mikhailov as saying, "We are expecting a serious crisis and are tightening our belts in advance."

News agency RBC cited sources as saying the staff cuts would affect all departments and that about 20 percent of the agency's 1,700 employees would lose their jobs.

Vedomosti put that figure at 25 percent.

Russia's energy-reliant economy has been hit by falling world oil prices and Western sanctions over Moscow's interference in Ukraine.

The main state news agency in the Soviet era, TASS changed its name to ITAR-TASS after the Soviet collapse but reverted to TASS last year.

Based on reporting by Vedomosti and RBC