Eletrobras to Start Retirement Incentive Plan for Up to 1,574 Workers
By Jeffrey T. Lewis
SAO PAULO--Centrais Eletricas Brasileiras, or Eletrobras, said Monday it will carry out a retirement incentive program starting Tuesday for up to 1,574 employees.
The cost of the program should be between 450 million reais, the equivalent of $93 million, and BRL750 million, with a payback similar to previous programs, Eletrobras said.
The plan is intended to improve the company's cost and operating expense structures while permitting greater adherence to its new organizational structure under its strategic plan, Eletrobras said.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
June 19, 2023 08:42 ET (12:42 GMT)
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