October 16, 2019 / 11:28 AM / a month ago

Brazil's Eletrobras to spend up to $105 mln by laying off third-party workers at Furnas - filing

SAO PAULO, Oct 16 (Reuters) - Brazilian state-run power firm Eletrobras said on Wednesday that laying off 1,041 third-party employees at its subsidiary Furnas Centrais Eletricas will cost up to 437 million reais ($104.59 million), under the terms of an agreement signed with public prosecutors and the workers union.

In a securities filing, the company added that the measure will generate cost savings of approximately 280 million reais per yer. ($1 = 4.1783 reais) (Reporting by Gabriela Mello, editing by Louise Heavens)

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