Petrobras (PETR3; PETR4) announces employee benefit cut

According to Suno Research, Petrobras (PETR3; PETR4) will begin to withdraw benefits and migrate to current labor legislation. This means that the Brazilian state-owned company, faced with the current deadlock in negotiations with the Single Federation of Oil Tankers (FUP), regarding the collective bargaining agreement, decided to go for individual agreements, with some specific benefits. This, of course, greatly weakens workers and will favor the company, which may adopt more aggressive stances in individual negotiations.

Currently, Petrobras and FUP are negotiating in the Superior Labor Court (TST) to try to reach a new collective agreement. According to the FUP, among the points under discussion are the compensation for overtime and co-participation in the health plans of employees.

This stalemate could lead the category to a strike, which could gain greater connotations and hinder the sale of pre-salt oil fields at the so-called mega auction scheduled for November this year. Petrobras, in turn, said in a statement that "it was tireless in seeking a deal", even presenting two new versions of its original proposal.