Russia AvtoVAZ sticks to pay cuts, shortened week

Newswire

MOSCOW, Feb 24 (Reuters) - Russia's AvtoVAZ will stick to a shortened work week in March and force some workers to take leave, it said on Tuesday, signalling that Russia's No. 1 car maker is still cutting costs in response to a slump in demand. Employees not involved in manufacturing cars will be put on leave at two-thirds pay, it said in a statement. Russian car sales are expected to shrink by 20-50 percent this year, depending on how quickly banks resume providing affordable car loans ...

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