GAZ Plans 5,800 Job Cuts

News: According to business daily Kommersant, Russian automaker Gorkovsky Avtomobilny Zavod (GAZ) is planning to lay off up to 5,800 employees. Earlier, deputy chairperson of GAZ, Yelena Matveyeva, denied plans for 14,000 job cuts and said that people will be transferred to other companies such as independent service units or sent for re-training. The move comes on the back of a collapsing Russian vehicle market due to the severe economic conditions.

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