February 26, 2019 / 11:01 PM / a month ago

Brazil's Petrobras studying voluntary layoff program in Sao Paulo

SAO PAULO, Feb 26 (Reuters) - Brazilian state-run oil company Petroleo Brasileiro SA said on Tuesday that it is studying a voluntary layoff program at its administrative headquarters in Sao Paulo to cut costs.

Petrobras, as the company is known, said in a statement it did not have further details or a timeline for potential layoffs. The Sao Paulo unit of the company employs more than 400 workers, according to a local union. (Reporting by Roberto Samora and Marta Nogueira Writing by Jake Spring ; Editing by Leslie Adler)

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