February 26, 2019 / 11:13 PM / 6 months ago

Brazil's Petrobras studying voluntary layoff program in Sao Paulo

FILE PHOTO: A man walks in front of the Brazil's state-run Petrobras oil company headquarters in Rio de Janeiro, Brazil December 5, 2018. Picture taken December 5, 2018. REUTERS/Sergio Moraes

SAO PAULO (Reuters) - Brazilian state-run oil company Petroleo Brasileiro SA said on Tuesday that it is studying a voluntary layoff program at its administrative headquarters in Sao Paulo to cut costs.

Petrobras, as the company is known, said in a statement it did not have further details or a timeline for potential layoffs. The Sao Paulo unit of the company employs more than 400 workers, according to a local union.

Reporting by Roberto Samora and Marta Nogueira; Writing by Jake Spring ; Editing by Leslie Adler

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