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Montevideo, March 28th 2024 - 12:17 UTC

 

 

Petrobras launches voluntary layoff program to cut 12.000 jobs

Monday, April 4th 2016 - 04:12 UTC
Full article 7 comments

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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  • L0B0MAU

    Why not leave the company in the hands of the efficient and professional management?

    Apr 04th, 2016 - 10:36 am - Link - Report abuse 0
  • ChrisR

    They have only had one applicant: David Bacelar, the Petrobras board member!

    He knows which side his bread is buttered (that will confuse Brasso).

    Apr 04th, 2016 - 11:43 am - Link - Report abuse 0
  • L0B0MAU

    REF: “the company in the hands of the efficient and professional management”:

    I forgot to add: “the management which ensures profitability; in spite of the corruption” :o))

    Apr 04th, 2016 - 12:16 pm - Link - Report abuse 0
  • golfcronie

    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 0
  • Jack Bauer

    The 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 0
  • LukeDig

    “To get back in the black”, talking about Brazil uh?
    I heard that when you go black you never go back.

    Apr 05th, 2016 - 03:39 am - Link - Report abuse 0
  • Jack Bauer

    @6 LukeDig
    Yeh, 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 ?

    Apr 05th, 2016 - 04:23 pm - Link - Report abuse 0

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