SAO PAULO – Two Brazilian companies ensnared in massive corruption investigation say they plan to cut billions of dollars in costs or sell off assets.
State-run oil company Petrobras says in a Friday statement that it has approved a voluntary layoff program to reduce its workforce by about 12,000 and save 33 billion reals (about $9.20 billion) by 2020.
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12:23 Lockheed Martin's quarterly profit handily beats estimates27
11:41 Caterpillar earnings: 85 cents per share, vs expected EPS of 76 cents23
16:51 Scottrade Sale Nearly Doubles Owner’s Wealth to $4 Billion16