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Russia: Carmaker to cut 25% of workforce
Avtotaz, the group which is 25% owned by Renault and which produces Lada cars, is to reduce its staff numbers by 27 600 from the current level of 102 000.
Citing a lack of demand, the company explained that 13 000 would retire while some 5 500 would take forced early retirement. Of the remaining balance of 9 100, 6 000 would have the option of rejoining the company in 2012.
With sales falling by 40% this year, the company froze production in August while employees will only work two weeks in every four from September until February.
Source: BBC.co.uk / 24.09.09