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.
Go deeper with GlobalData
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.
