BTG Pactual fires 18 pct of Brazil-based staff to cut costs

jueves 28 de enero de 2016 16:21 GYT

SAO PAULO Jan 28 (Reuters) - Grupo BTG Pactual SA cut about 18 percent of Brazil-based staff on Thursday after the embattled investment-banking firm moved to reduce costs by 25 percent.

In a securities filing, BTG Pactual dismissed 305 out of the 1,653 employees based in São Paulo, Rio de Janeiro and other Brazilian cities. No business area will be deactivated as a result of the job cuts, the filing said. (Reporting by Guillermo Parra-Bernal; Editing by David Gregorio)