LatinNews Daily - 31 October 2022

* Brazilian electricity company Eletrobras, one of Latin America’s largest energy companies, has announced a voluntary layoff programme aimed at cutting around 22% of its workforce. The programme was offered to 2,312 of Eletrobras’s 10,508 workers and, according to the company, will cost up to R$1bn (US$188m). It is announced just four months after the government privatised Eletrobras through a US$6.9bn share offering. Electrobras said that the severance package presented to employees will include cash payments equivalent to three years of healthcare plan, a year of food aid, and nine months’ salary. Employees that adhere to the programme will also receive the compensation that companies are required to pay out in cases of unjustified dismissals in Brazil.

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