AvtoVAZ plans to lay off 5,000 employees, according to Kommersant business daily citing sources at the Russian carmaker and at the government of the Samara Region where it is based.
The automaker plans to officially announce its decision on Monday, sources said. It also plans to decide by the end of this year whether it will lay off 31,000 more employees, they added.
AvtoVAZ is currently operating a short work week and does not have the right to lay off employees during this regime, Kommersant said. However, AvtoVAZ said it could change the work regime at any time.
As of July, AvtoVAZ had about 110,000 employees.