Avtovaz, Largest Carmaker in Russia, Considers Laying Off 27,000 Workers and Reduce Production 59%

NY Times & Moscow Times

Last updated:

Wed, 29 Jul 2009 05:09:00 +0000

Related: World Oil Production Peaked in 2008

Russian car giant Avtovaz could cut a quarter of its 110,000 workforce amid plunging sales, reports said Tuesday, underlining the severity of the economic crisis in Russia's auto sector.

Avtovaz vice president Igor Komarov announced a plan to cut 27,691 jobs at a meeting with suppliers, the Interfax news agency said, citing company sources.

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Also, AvtoVAZ to Reduce Production 59%‎.

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