GAZ plans to lay off about 4,000 employees at its facilities in the Nizhny Novgorod Region in July, the company’s press office has said.
The company attributed the decision to a significant decrease in purchasing power on the commercial vehicle market and falling production.
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The company also said that it was ‘planning to avoid massive layoffs’.
GAZ recently said it was planning to increase production in the coming months and that it is planning a new low-cost van.
