Avtovaz planning shorter week, could halve wages from September
MOSCOW. June 24 (Interfax) - Avtovaz could introduce a shorter working week for all employees and almost halve wages from September to February, the press office of Russia's biggest carmaker told Interfax.
The assembly line could work two shifts, as in the preceding month, the company said.
The plan will be implemented if it looks like car sales in Russia will approach 1.2 million this year and Avtovaz will have a 30% share of the market.
The salary cuts would extend to senior managers, including the company's president. Bonuses for executives for 2008 have already been canceled.
Avtovaz saw its own sales plummet 45% to 151,019 cars in January-May. The whole market shrank 47% to 645,162 cars.