Russia Car Giant Avtovaz to Cut 5,000 Jobs

Company will return to full-time operation

As it struggles to cope with serious problems due to the impact of the global economic slump, Avtovaz said on Sept. 14 that it planned to cut 5,000 jobs from December 14.

"Our aim is to keep as many people as possible, to the extent that the market allows us," Avtovaz chairman Igor Komarov said.

Avtovaz added that from December 14, its plants would return to full-time operations after it reduced the working week to 20 hours from September 1.

Copyright Agence France-Presse, 2009

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