Petrobras wins appeal in multi-billion dollar labor case

A man walks in front of the headquarters of Petroleo Brasileiro S.A. (Petrobas) in Rio de Janeiro
A man walks in front of the headquarters of Petroleo Brasileiro S.A. (Petrobas) in Rio de Janeiro, Brazil March 9, 2020. REUTERS/Sergio Moraes/File Photo

BRASILIA, June 26 (Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA) has won its appeal in the Supreme Court against a 2018 labor conviction, avoiding billions of dollars in payments.

Petrobras was charged in 2018 by Brazil's top labor court for divergences in the minimum salary remuneration agreed between the company and its employees, known as RMNR.

The company was then liable to pay at least 17 billion reais ($3.57 billion) in salary corrections.

The final decision to annul the case comes more than a year after supreme court Justice Rosa Weber asked for its temporary suspension.

In a statement, Petrobras said it was awaiting the full written judgment "to provide information to the market about the decision."

($1 = 4.7675 reais)

Reporting by Ricardo Brito; Writing by Carolina Pulice; Editing by Isabel Woodford and Shri Navaratnam

Our Standards: The Thomson Reuters Trust Principles.

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