November 12, 2019 / 8:41 PM / a month ago

Brazil's Eletrobras to reduce staff after privatization -CEO

RIO DE JANEIRO, Nov 12 (Reuters) - Brazil state-run utility firm Centrais Eletricas Brasileiras SA plans to increase investment and reduce its staff to 10,000 employees from 13,700 as part of its expected privatization, its chief executive said on Tuesday.

CEO Wilson Ferreira Jr. said the company, Latin America’s largest power company commonly known as Eletrobras, is expected to reduce staff numbers to 12,000 by May, out of which 2,000 will then be allocated to the state-run operation comprised of Itaipu and Eletronuclear.

$1 = 4.1637 reais Reporting by Rodrigo Viga Gaier; Editing by Sandra Maler

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