Petrobras Workers Under FUP Union Reject Second Labor Deal Proposal; Strike Looms

MT Newswires Live12-11

Petroleo Brasileiro (PBR), or Petrobras, workers under the FUP union rejected the management's second counter-proposal for a collective bargaining agreement, according to a Google translation of a Tuesday statement from the union.

The union said it is urging members to participate in assemblies that are "overwhelmingly approving" a strike that is planned to start on Monday and that it will notify Petrobras of the labor action on Friday.

Petrobras did not immediately respond to MT Newswires' request for comment.

Shares of Petrobras were down more than 1% in recent trading Wednesday.

Price: 12.16, Change: -0.16, Percent Change: -1.30

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