Brazil's Petrobras studies downsizing logistics unit
Brazilian state-run oil firm Petrobras is studying a mass transfer of employees out of its Transpetro logistics unit, according to a document seen by Reuters, in a sign the company may be gearing up to privatize additional assets.
The human resources departments of Petroleo Brasileiro SA, as the company is formally known, and Transpetro are developing an “action plan for the evaluation and possible return of (employees) ceded to Transpetro from the parent company,” according to the document, dated July 24.
It is common at Petrobras for employees to be hired by the parent company and later transferred to a subsidiary. Such workers technically remain employed by the parent company, and are transferred back to Petrobras if a unit is privatized.
A similar process occurred at fuel distribution unit Petrobras Distribuidora SA, according to two sources familiar with the matter, before it was privatized via share offering this month.
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