Brazil - 04

Brazil: Labor Union Strike Highlights Resistance to Petrobras Divestment Plans

The FUP and FNP launched a nationwide, one-day strike against Petrobras’ ongoing divestment plans on 24 July, disrupting operations of at least 22 platforms. Altogether 17 different oil sector labor unions and a significant portion of Petrobras employees comprise the two organizations. According to the company’s most recent business plan released on 29 June, it aims to sell off approximately $57.7bn in assets over the next four years, a decision that has sparked fears of layoffs. Due to Petrobras’ difficult financial situation and the sensitive political environment, it has also…

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