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Petrobras trims management to be more competitive

 

 

 

By Reuters Staff

RIO DE JANEIRO
Petroleumworld 10 27 2017

Brazilian state-run oil company Petroleo Brasileiro SA said on Wednesday it had board approval to reorganize its corporate management structure in all operational areas from exploration and production to refining.

Streamlining will clip 11 percent of “management functions” and save the company 35 million reais ($10.8 million) a year, it said in a statement.

Some employee positions will be moved next year but there will be no layoffs, Petrobras added. The changes are part of its 2017-2021 business and management plan to make the company more competitive, it said.

Petrobras did not say if the changes would reduce the company's workforce and the company was not available after normal business hours to comment.

“The purpose is to make gains by strengthening organization and adopting leaner and more agile structures, while ensuring operational reliability and safety,” the company said.



Writing by Anthony Boadle; Editing by Lisa Shumaker from Reuters.

reuters.com 10 26 2017

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