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Downsizing deals - GAZ Group to cut 14,000 jobs by end of year

RIA Novosti quoted a Healthcare and Social Development Ministry spokesman said the GAZ Group, Russia largest manufacturer of light commercial vehicles plans to dismiss 14,000 employees by the end of 2009. A GAZ spokesman did not confirm the report, however.

The ministry spokesman said the cuts would be made in the majority of the group companies. Almost 5,500 people have already been made redundant by GAZ. The layoffs are expected to be carried out in stages throughout the year. People that have been laid off will get receive assistance such as retraining or state support for those who want to start up their own business.

Mr Tatyana Golikova Russian Health and Social Development Minister said Russia flagship air carrier Aeroflot planned to dismiss 2,215 employees by the end of the year. The airline which currently employs 15,000 said another 4,000 could be made redundant if passenger volumes continued to fall.

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