Petrobras approves redundancy program targeting 1,100 workers
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The logo of Brazil's state-run Petrobras oil company is seen at its headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS/Sergio Moraes
SAO PAULO (Reuters) -Brazilian state-run oil firm Petrobras said on Monday that its board of directors has approved a new voluntary redundancy program targeting about 1,100 people.
"The financial impact will be recognized in the financial statements as participation in the program becomes effective," Petrobras said in a securities filing, adding that the terminations are expected to happen throughout 2026.
Reuters had reported on Petrobras' plan in October, citing sources.
(Reporting by Isabel Teles; Editing by Gabriel Araujo)
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