Brazil’s Petrobras plans to launch a new voluntary redundancy programme in an attempt to reduce costs.
The initiative, which has yet to be approved by the company’s executive board, would take place more than two years after a similar programme, in which 11,704 employees agreed to leave voluntarily at an estimated cost of 4 billion reais ($1.06 billion).
Petrobras chief executive Roberto Castello Branco also said the company intends to close its administrative offices in the city of Sao Paulo.
