Embraer stock drops on plans to cut Brazil workforce to cut costs
SAO PAULO Aug 9 (Reuters) - Shares in Embraer SA, the world's No. 3 commercial aircraft producer, fell on Tuesday after management launched a plan to reduce its workforce in Brazil and cut costs.
Shares shed over 1 percent to 14.90 reais at the market open in São Paulo. The plan, alongside several other initiatives, aims to cut costs by about $200 million annually. (Reporting by Guillermo Parra-Bernal Editing by W Simon)
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