UPDATE: AvtoVAZ says plans to lay off only 740 people now

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MOSCOW, Jul 17 (PRIME) -- Russia’s largest carmaker AvtoVAZ has officially confirmed an earlier announced plan to lay off 740 people and does not plan to raise this number so far, the company said in a statement Monday.

“Regarding layoffs, AvtoVAZ officially confirms the information announced in February of this year on the layoff of 740 people not engaged in the main production. The company does not currently have plans to increase this number of employees,” the statement said.

Mikhail Babich, presidential envoy to the Volga Federal District, said earlier on Monday that AvtoVAZ plans to lay off 6,000 people this year and 2,200 people in 2018.

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