YEREVAN. – Zhamanak daily has learned that the Russian-led “South Caucasus Railway” Closed Joint-Stock Company of Armenia may soon find itself on the verge of bankruptcy, just like the example of another Russian company, the Electric Networks of Armenia, the daily reported.

“The company is working with a loss and has accrued huge debts for a long time. It is because of these problems that the company decided to downsize the staff, [and] the work hours of the employees.

“In addition, the [company] management makes the employees take unpaid leave, as a result of which it also saves some money,” Zhamanak wrote.