By Jeffrey T. Lewis
SÃO PAULO–Shares of Brazil’s BRF SA rose 4.2% after a neighborhood information group reported the meals conglomerate is lowering prime administration employees.
The shares have been buying and selling increased at 15.14 reais, the equal of $3.20,and have been down 35% from the beginning of the 12 months by Thursday’s shut. The benchmark Ibovespa shares index was up 0.1% on the similar time.
BRF is eliminating 25% of its director positions, in accordance with a report printed Thursday afternoon on the Valor Economico web site.
An individual on the firm confirmed the 25% determine Friday, although the particular person declined to say precisely what number of positions that was, and added that some have been already vacant.
BRF earlier this 12 months introduced a plan to reorganize and simplify its construction to scale back prices and enhance its inside processes.
BRF in the beginning of May reported a loss from persevering with operations of 1.5 billion reais in its first quarter.
Write to Jeffrey T. Lewis at [email protected]
Brazil’s BRF Shares Rise 4.2% After Report on Slimmed-Down Management & More Latest News Update
Brazil’s BRF Shares Rise 4.2% After Report on Slimmed-Down Management & More Live News
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Brazil’s BRF Shares Rise 4.2% After Report on Slimmed-Down Management & More News Today
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