Russia's Largest Automaker to Shed 2,500 Jobs

Newswire

MOSCOW, Jan 23 (Reuters) - Russia's largest carmaker AvtoVAZ plans to axe 2,500 jobs and lose about the same again through attrition this year to help it back to profit in a contracting domestic market, its new chief executive said on Thursday. The 7.5 percent reduction in the AvtoVAZ workforce comes in response to the Lada manufacturer's worsening results and a negative forecast for the Russian market in 2014. "AvtoVAZ has developed urgent measures to improve the company's ...

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