Petrobras plans to slash 30% of management jobs in non-operating areas

Saturday, January 30th 2016 - 13:11 UTC

Full article 8 comments

As Brazil struggles with a corruption scandal in which executives and politicians face investigations of alleged bribery, Brazil’s state-run oil company Petrobras announced it will slash management jobs as part of an efficiency drive approved by its board of directors. Read full article

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ChrisR
They should get rid of anybody who is associated with the PT at ALL levels including Directors.

71% of 'approved' management positions are non-operational.

I would imagine many of these are people who don't turn up for work, just the money.

50% sounds about the right cut to begin with. Those who are left who don't like it can go as well.

Then shave off more management when you can see who is effective!
Jan 30th, 2016 - 05:19 pm - Link - Report abuse 0
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Jack Bauer
“PB hopes the restructuring will trim about 1.8 billion Reais — now US$440 million — from its annual costs”.

All very nice, but a bit like closing the barn door after the horse has escaped.

As to the ridiculous claim by the Government, that the “Federal police and prosecutors are acting 'obsessively' in their attempt to link Lula da Silva to the Petrobras corruption scandal”, it is what's to be expected from the PT scumbags. After all, why should going after criminals be considered 'obssessive' ? because it's their St. Lula who has his ass on the burner ?
Jan 30th, 2016 - 06:17 pm - Link - Report abuse 0
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yankeeboy
PBR still thinks they're a major company.
They're a mid-cap company
In the USA an oil company with a 10B market cap has 700 employees.

So yeah.
Jan 30th, 2016 - 08:06 pm - Link - Report abuse 0
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Brasileiro
The problem is that your vision is limited by the stock exchange.
Jan 31st, 2016 - 03:37 pm - Link - Report abuse 0
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yankeeboy
The problem is you're too stupid to understand your leaders have stolen all the loot out of PBR and left the scraps and the debt.
Jan 31st, 2016 - 04:02 pm - Link - Report abuse 0
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Jack Bauer
@4 BRasshole
The value of PB shares on the stock market has little to do with its current predicament - other than being the direct result of it - and is the least of its problems ; While it might be a problem to speculators, and to those who (unfortunately) bought shares believing they would be a 'safe' long term investment, PB is in the crapper because it was (is ?) plagued by bad management and bad investments (just one - Pasadena Refinery), huge corruption (again, Pasadena Refinery, Refinaria Abreu e Lima, COMPERJ), USD 130 billion debt, you name it - anything that is fatal to a company. Proof of this is that it is now trying desperately to get rid of bad (and good) assets to build up its cash-flow to enable it to continue to operate, and survive. The PT thought is was too big to fail....but we are seeing different now, aren't we ??
Jan 31st, 2016 - 07:32 pm - Link - Report abuse 0
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yankeeboy
PBR is worth U$12B today
It owes U$130B
It is bankrupt
It just doesn't know it yet
There's not near enough assets to ever right the balance sheet
Feb 01st, 2016 - 04:29 pm - Link - Report abuse 0
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L0B0MAL
All [or almost ALL] the Govt/State-Run Industries are:
- Not at all Profit-Driven
- Mismanaged & Inefficient
- Practice favouritism [who is in-charge of what] and are “Over-Employeed”
- Infested with Politics/Corruption

HENCE:
- benefit the “chosen” few
- incur HUGE losses - Frequently/Always
- contributes only to the worsening of the Economy
- additionally burdens the taxpayers

Bottom-Line: Govt. should take care of the people and let the [right] people take care of the business!
Feb 04th, 2016 - 10:54 am - Link - Report abuse 0
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