Brazil’s Petrobras says 11,704 staffers joined layoff program

Brazil’s state-run oil producer Petroleo Brasileiro SA on Friday said 11,704 staffers joined its 2016 voluntary layoff program, with an estimated cost of about 4 billion reais ($1.23 billion).

Petrobras, as the company is known, said the final number may change as the applications are still being calculated. The company has already dismissed 2,450 workers under the program since June 16, Petrobras said in a filing.

($1 = 3.2428 Brazilian reais) (Reporting by Roberto Samora; Writing by Silvio Cascione)

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