Brazil's embattled oil company Petrobras said it will launch a voluntary layoff program to cut an estimated 12,000 jobs in a bid to save up to 33 billion reais ($9.20 billion) by 2020. The program will cost 4.4 billion reais and is open to all employees, according to a statement from Petrobras, which has been hard hit by low oil prices, refinery project problems and a massive price-fixing, bribery and political kickback scandal. Read full article
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Disclaimer & comment rulesWhy not leave the company in the hands of the efficient and professional management?
Apr 04th, 2016 - 10:36 am - Link - Report abuse 0They have only had one applicant: David Bacelar, the Petrobras board member!
Apr 04th, 2016 - 11:43 am - Link - Report abuse 0He knows which side his bread is buttered (that will confuse Brasso).
REF: the company in the hands of the efficient and professional management:
Apr 04th, 2016 - 12:16 pm - Link - Report abuse 0I forgot to add: the management which ensures profitability; in spite of the corruption :o))
Profitability? Do you mean the fourth quarter LOSS of $10.2 billion? Where is the profit?
Apr 04th, 2016 - 03:23 pm - Link - Report abuse 0The fact is that the corruption has undermined anything good that the company had going for it, but what is now obvious is that the volume of business has shrunk to a point where it is insufficient to support the oversized structure......to get back into the black (when, nobody knows) they will need to downsize and hope that the price of oil increases. And a little bit of humility in accepting the fact that they are now just 'another' small oil company - and not doing well - would go a long way in getting out of the hole.
Apr 04th, 2016 - 03:47 pm - Link - Report abuse 0To get back in the black, talking about Brazil uh?
Apr 05th, 2016 - 03:39 am - Link - Report abuse 0I heard that when you go black you never go back.
@6 LukeDig
Apr 05th, 2016 - 04:23 pm - Link - Report abuse 0Yeh, talking about Brazil....so ? Maybe you got the wrong end of the stick, because what has Brazil being in the red got to do with when you go black you never go back ?
OR, is that the conclusion you arrived at after a personal experience ?
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