November 8, 2019 / 12:30 PM / 13 days ago

Petrobras fuel distribution unit announces plan to save $158 mln a year

RIO DE JANEIRO, Nov 8 (Reuters) - Brazilian state-run oil company Petroleo Brazileiro’s fuel distribution unit Petrobras Distribuidora is set to undertake a reorganization plan to save 650 million reais ($158 million) a year, the company said in a filing on Friday.

The plan would cost 780 million reais to implement and would include job cuts, revising contracts and changing compensation programs, the company said.

($1 = 4.1106 reais)

Reporting by Tatiana Bautzer; Editing by Edmund Blair

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