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The PRVE Aims to Leverage the Company’s Results with a Focus on Meritocracy, Aligning Petrobras with Market Practices.
Petrobras, which was the target of Operation Car Wash, shows that it has turned its situation around. The company has been receiving significant responses in the market that have recently reflected in its employees’ pockets. To maintain the objective of portfolio optimization and improvement of the company’s capital allocation, aiming to generate value for its shareholders, the oil company announced on Monday, the 26th, the start of the binding phase for the sale of all its interests in eight concessions for onshore exploration and production.
In an equation involving compliance in management, recovery of market value, auctions, and sales of subsidiaries, the billions provided a good extra cash for the staff.
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The oil company made so much money that it just paid, in July, in one go, R$ 1 billion in bonuses to its employees.
This is called Variable Compensation, for “employees who had outstanding performance in 2018,” explains the company’s advisory.
According to the advisory, the PRVE “aims to leverage the company’s results with a focus on meritocracy, aligning Petrobras with market practices.”
Collective Agreement
On this Monday, August 26, Petrobras announced that it has filed for mediation with the Superior Labor Court (TST) to try to reach a negotiated solution for the closure of the Collective Labor Agreement (ACT) for the period 2019-2020.
“The decision was made by the company after attempts to reach an agreement in negotiations with the union leaders were exhausted,” the company said in a statement.
Salary negotiations have been ongoing for more than three months, and Petrobras presented its final proposal on August 8, with a deadline of 15 days for the unions to consult their bases and return with a response.
The new proposal was raised from 1% of the National Consumer Price Index (INPC) to 70% of the accumulated INPC from September 1, 2018, to August 31, 2019, according to the advisory.
Oil Leak at Petrobras Abreu e Lima Refinery
