Petrobras loses in Brazil labor court over $4.5B pay dispute [Seeking Alpha]
Petroleo Brasileiro S.A.- Petrobras (PBR)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Seeking Alpha
Petrobras loses in Brazil labor court over $4.5B pay disputeBrazil’s top labor court late yesterdayruled in favor of workers at Petrobras (NYSE:PBR) seeking higher wages in a dispute that could cost the company up to 17B reais ($4.5B); the company says it plans to appeal the decision in the Supreme Federal Court.Workers argued that payments tied to special work arrangements, such as night shifts and hazardous work, should be excluded from the base wage calculation, while PBR says the payments should be included in the calculation, as agreed in last year's collective salary pact with workers.The change would means ~59K employees could receive a wage increase of as much as 35%, according to calculations by the Attorney General’s Office.Click to subscribe to real-time analytics on PBRNow read:Helix Energy Solutions: Playing The Turnaround »
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News
- Petróleo Brasileiro S.A. - Petrobras (NYSE: PBR) had its price target raised by analysts at UBS Group AG from $17.20 to $17.40. They now have a "buy" rating on the stock.MarketBeat
- Petróleo Brasileiro S.A. - Petrobras (NYSE: PBR) was upgraded by analysts at HSBC Holdings plc from a "hold" rating to a "buy" rating. They now have a $18.00 price target on the stock.MarketBeat
- Petróleo Brasileiro S.A. - Petrobras (NYSE: PBR) was downgraded by analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating. They now have a $18.00 price target on the stock, down previously from $20.00.MarketBeat
- Petróleo Brasileiro S.A. - Petrobras (NYSE: PBR) was downgraded by analysts at Bank of America Co. from a "buy" rating to a "neutral" rating. They now have a $16.00 price target on the stock.MarketBeat
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PBR
Sec Filings
- 4/26/24 - Form 6-K
- 4/26/24 - Form 6-K
- 4/25/24 - Form 6-K
- PBR's page on the SEC website