MMK will reduce its management staff and stop its underutilized facilities

MMK intends to reduce its management staff by 10% and stop its underutilized production units amid the industry downturn, according to an address by the company's CEO, Pavel Shilyaev, to its employees. In 2025, MMK was operating at a 70-80% capacity and had minimal profitability, resulting in a decline in sales and a net loss of almost ₽15 billion. Currently, the company's capacity is even lower, at around 60%.