Interfax cited Mr Maxim Topilin Deputy Health and Social Development Minister of Russia as saying that Russian enterprises have notified the authorities of their plans to lay off 450,000 people, but this process will be gradual and long lasting.

He said that "According to our forecasts, including monitoring that we are conducting, 450,000 people is the figure that the companies have announced, but this does not mean that this will happen tomorrow. This procedure is long."

He added that some companies planning lay offs then recall their notifications in certain cases.

Mr Topilin replied when asked to comment on the Independent Unions Federation forecast that 300,000 people may be laid off by the end of 2009 said that "This figure is basically in conformity with the ministry evaluations."

(Sourced from Interfax)