AvtoVAZ expects termination payments to laid off employees to total over RUB4bn, the troubled automaker said on Monday.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
It had said earlier it planned to lay off up to 27,600 employees as part of a crisis programme, Prime-Tass noted. Of these about 5,000 would go by the end of the year. Of those affected by the layoffs, 13,000 are pensioners, around 5,500 workers are close to retirement age and 9,100 are of working age, AvtoVAZ said.
Last Thursday (8 October), Russia’s first deputy prime minister Igor Shuvalov said AvtoVAZ won’t undertake massive layoffs, the news agency added.
