SAO PAULO Jan 17 Brazil's state-run oil company
Petróleo Brasileiro SA, known as Petrobras, has
launched a voluntary layoff plan that could involve about 10
percent of its employees, the workers' union said on Friday.
The plan, which was announced by the company earlier on
Friday, is part of efforts by the Brazilian oil company to
streamline costs and increase productivity.
Brazil's National Oilworkers' Federation (FUP) said in a
statement the plan is aimed at 8,379 workers from a total of
85,000, adding that many of them have already retired but
continue to work at the company.
Petrobras, which did not provide specific details, said
employees aged 55 or older would be eligible.
"This plan is the result of a productivity optimization
program, which has a goal of positively affecting the company's
productivity and attaining our goals for our business plan," the
company said in the securities filing.
Decreasing output from older offshore oil fields, delays in
bringing on new areas, and the government's refusal to let the
company charge Brazilians world prices for gasoline, diesel fuel
and cooking gas has crimped revenue and forced it to borrow more
to pay for investments.