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Avtovaz OAO staff reductions intensify-Reuters

Friday, 6 Jun 2014 08:44am EDT 

Avtovaz OAO:AvtoVAZ said it expects to cut 13,000 staff, more than previously indicated, at its Togliatti plant due to falling sales of its flagship Lada-Reuters.Avtovaz slumped to a loss last year, and recently appointed CEO Bo Andersson is battling to revive business in a touch economic environment amid the crisis over Ukraine.Avtovaz said earlier this year it would reduce staff by 7,500 in 2014 to help the business back into profitability.The latest forecasts by Avtovaz indicate the cuts will be deeper."The total number of workers at the (Togliatti) plant (in late 2014) will be about 53,000 people," Avtovaz said in comments in response to questions from Reuters.It said that at the end of last year, 65,891 people worked at the Togliatti site on Russia's Volga river, which is its main base. 

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