Embraer stock drops on plans to cut Brazil workforce to cut costs

martes 9 de agosto de 2016 09:12 GYT

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)