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. Last Updated: 07/27/2016

AvtoVAZ Passes Crisis Plan

The AvtoVAZ board of directors Tuesday approved changes to its anti-crisis program, which it says may save the company 13.85 billion rubles in 2009.

The investment program for the next four years has been cut by nearly 50 percent to 42 billion rubles. Management will not be receiving bonuses or "golden parachutes" in another cost-cutting measure.

(MT)