The management of AvtoVAZ (AVAZ.MM), Russia's largest car maker, has signed an order to cut 5,000 jobs starting from Dec. 14, two sources close to the company said on Monday.
Today two orders have been signed, a source at AvtoVAZ said adding that the first order will restore normal working week from Dec. 14 while the other entails cutting 5,000 jobs.
Car sales in Russia have more than halved this year as the country's first recession in a decade forces consumers to rein in spending [ID:nL8400601].
AvtoVAZ cut the working week and halted production altogether during August. Last month, hundreds of workers demanded the company be nationalised amid salary cuts and speculation a quarter of jobs could be cut.
AvtoVAZ, part-owned by French carmaker Renault (RENA.PA), declined immediate comment. (Reporting by Gleb Stolyarov; writing by Maria Kiselyova; editing by Toni Vorobyova)