Automaker AvtoVAZ is planning a transition to a schedule where employees work four days a week.
In the automotive industry, change is on the horizon for AVTOVAZ, Russia's largest car manufacturer. The company's management is contemplating a shift to a four-day workweek, a move driven by reduced demand in the market.
Maxim Sokolov, AVTOVAZ's president, made this announcement in a conversation with journalists. He explained that the market hasn't shown enough activity yet, making it economically unviable to produce cars and store them.
Sokolov is set to make a final decision on this matter by the end of September. This decision comes amidst a challenging time for the industry, with factors such as competition from Chinese automakers and high key interest rates from the Bank of Russia contributing to the drop in consumer purchasing power.
Experts suggest that supporting the industry could be strengthened after the Bank of Russia lowers its key rate. Additionally, subsidized auto lending programs could be implemented by the government to boost the industry.
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With the potential shift to a four-day workweek, AVTOVAZ is preparing to adapt to the changing market conditions. As the situation unfolds, the site will continue to provide updates on this and other relevant news from Russia and beyond.
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