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Energy

Petrobras CEO says 11,000 employees to leave company by end-2021

FILE PHOTO: Roberto Castello Branco, CEO of Petroleo Brasileiro S.A. (PETROBRAS), speaks during a compliance event in Rio de Janeiro, Brazil December 9, 2019. REUTERS/Sergio Moraes

RIO DE JANEIRO (Reuters) - Approximately 11,000 employees of Brazilian state-run oil company Petrobras have accepted buyout packages and will leave the firm this year or next, Chief Executive Roberto Castello Branco said during an online event on Thursday.

That number, which represents about a quarter of the company's workforce, is a slight increase from the 10,000 employees that Castello Branco had said in July would depart Petroleo Brasileiro SA PETR4.SA, as the company is formally known.

Reporting by Gram Slattery; Editing by Sandra Maler

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