AvtoVaz denies plans to lay off a quarter of staff

Newswire

MOSCOW, July 28 (Reuters) - Russia's AvtoVAZ , partly owned by France's Renault , denied on Tuesday it plans large-scale layoffs after suppliers said the company told them it was overstaffed by about 25 percent, or 27,000 workers. "It is not realistic," said Avtovaz's president, Boris Alyoshin. The company also denied huge job cut plans. "No such figure was announced. AvtoVAZ is currently not planning to lay off workers," said spokesman Igor Krotov. AvtoVAZ held a meeting with regional ...

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