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Provider : Reuters Investment Profile
Provider : Wright Reports
Provider : Investcafe
Provider : Investcafe

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Avtovaz OAO plans to cut about 7.5 thousand employees, or 11 pct of staff in 2014-Interfax

Thursday, 23 Jan 2014 05:25am EST 

Avtovaz OAO:Says it plans to cut about 7.5 thousand employees before the end of 2014 due to the cost optimization in the context of a general decline in sales of cars in Russia and negative market forecasts for the current year-Interfax.The company signed an order approving the normative number of managers, professionals and employees in order to optimize the company's expenses for staff.According to the order number of regulatory executives, professionals and employees will be reduced by 2.5 thousand.According to the press center, the number of staff on Avtovaz OAO is about 66.5 thousand people. Thus, until the end of 2014 the number of employees will be reduced by 11 pct. 

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28 Aug 2015