This chapter focuses on qualitative interviews with human resource managers at a major steel company in the Ural region. It explores the restructuring of the company and then presents the company's practice of human resource management. The chapter discusses the characteristics of the Russian labour market. It also discusses the following aspects of human resource management at Magnitogorskiy Metallurgiskiy Kombinat (MMK): restructuring of employment, recruitment of young professionals, formation of the core personnel and the maintenance of a management reserve, personnel assessment, and personnel development. Restructuring at MMK meant modernization, market exploration, and product innovation. The human resource management would like to de-allocate the positions to younger employees, especially in management positions. The leadership qualities of management are also the object of consultations with subordinates, superiors, and colleagues. Competence-building, and increasing the qualification level of the management, are the main objectives of the personnel development department.