June 29, 2020 / 12:38 PM / a month ago

Brazil's Petrobras says Transpetro unit to reduce workforce by 557 employees: filing

FILE PHOTO: People walk in front of the Brazil's state-run Petrobras oil company headquarters in Rio de Janeiro, Brazil, October 16, 2019. REUTERS/Sergio Moraes/File Photo

SAO PAULO (Reuters) - Brazil’s state-run oil company Petrobras said in a filing on Monday its transportation unit Transpetro will begin a voluntary layoff program this year, aiming to reduce its workforce by 557 employees.

The program will begin next September and is expected to last through July next year, Petroleo Brasileiro SA, as the company is formally known, said. The program should save around 552 million reais ($100 million) in expenses by 2025, the company added.

Reporting by Tatiana Bautzer; Editing by Toby Chopra

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