The Russian Railways does not plan to lay off workers, the official portal of the government of the Chuvash Republic announced, citing the Russian Railways’ President Vladimir Yakunin. He said that some employees might be switched to reduced working hours in the current economic situation, but the company does not expect staff reductions, the Vedomosti publication writes.

Yakunin said that the Russian Railways plans to implement an investment program worth RUB 415 billion in 2015. The president of the company said that reduction of investment programs would deal a blow to the country's economy.

"Imports account for only 4% of our procurement budget. No company in Russia buys as much domestic products for its own needs as the Russian Railways," said Yakunin.