The conflict of economic rights of employers and labour rights of employees is quite relevant in the Russian legal context. The social dialogue institutions in Russia are rather weak, therefore, the main balance between the labour rights of workers and economic freedoms of employers is usually discussed within a framework of flexible or rigid statutory regulation of work. The authors conclude that current Russian labour law is lacking more protection of workers rather than flexibility of regulation. The power balance and the aims of normative regulation are clearly shifted into employers’ favour but not vice versa. The niche for flexibilization of labour law may be found not in the relations between the employers and employees, but rather between the employers and the state, but only under a condition that such flexiblization would not affect the employees’ rights which are already under-protected.