PETROBRAS CUTS 11,704 JOBS
According to WSJ, Brazil's troubled state-run oil company Petróleo Brasileiro SA on Friday announced the end of its voluntary layoff program, with 11,704 workers deciding to leave the company amid intense efforts to cut costs.
Petrobras said the program, implemented in April, is likely to cost around 4 billion reais ($1.23 billion) and could save up to 33 billion reais through 2020. Petrobras already provisioned 1.2 billion reais in the second quarter.
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