Petrobras voluntary layoff program accepted by 6,100 employees: source
Workers repair a tank of Brazil's state-run Petrobras oil company in Cubatao, Brazil, April 12, 2016. REUTERS/Paulo Whitaker
SAO PAULO (Reuters) - A voluntary layoff program at state-run oil company Petroleo Brasileiro SA
The number may rise by month-end, the deadline for the plan proposed by the oil giant known as Petrobras. Around 12,000 employees, or 21 percent of its workforce, are eligible.
If all eligible employees accepted the voluntary layoff program, Petrobras would face an immediate cost of 4.4 billion reais ($1.3 billion) but save 33 billion reais in salaries over the next four years, the company said upon announcing the plan.
($1 = 3.228 Brazilian reais)
(Reporting by Marta Nogueira; Writing by Tatiana Bautzer; Editing by Phil Berlowitz)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Exclusive-ZTE among Chinese firms licensed to purchase Nvidia's H200 chips, documents show
- China memory chipmaker CXMT expects to raise 57.9 billion yuan in IPO
- Ukraine's PM Svyrydenko steps down in Zelenskiy's latest reshuffle
Create E-mail Alert Related Categories
ReutersRelated Entities
LayoffsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!



Tweet
Share