Brazil’s state-run oil company Petrobras is reportedly planning to cut 12,000 jobs through a voluntary layoff program in order to reduce costs.
According to O Estado de S.Paulo , daily newspaper from Brazil, that quoted sources close to the matter, Petrobras will reduce its workforce by 12,000 jobs as part of its restructuring plan.
The plan has already been defined and it should be presented to the company’s staff by mid-year, the Brazilian daily added.
The applicants for this plan will reportedly receive compensation according to their length of service, age and salary. The cuts represent about 15 percent of Petrobras’ total of 77,800 permanent employees.
The Brazilian newspaper also reported that the oil company engulfed in a major corruption scandal in Brazil has already discussed the matter with the unions and is only awaiting for the approval from the board.
Offshore Energy Today Staff