Russia / Automakers have cut jobs by 30% over 5 years

Over the past five years the number working in the Russian vehicle production fell by 29%. Output increased by 24% proving the sector has become more productive.

Since  April 2012 car manufacturers cut  5% of their work force bringing the total number employed to 244,000, business daily Vedomosti reports. Most jobs were cut after the crisis in 2008-2009. Russia’s Avtovaz cut a quarter of its staff, and GAZ halved the number of its workers, the newspaper quotes Ivan Bonchev from SI Capital Partners as saying.

The potential for further job cuts is just about exhausted, according to Bonchev.  Now Russian carmakers are emphasizing improved productivity to compete with foreign manufacturers, he says.  For example, one employee at the U.S. Kia factory produces more than 100 cars a year, Bonchev says.

Chosen excerpts by Job Market Monitor. Read the whole story at 

via Russian automakers cut jobs by 30% over 5 years, but boosted output — RT Business.