Petrobras, the world's most indebted large oil company, is reviewing terms of a profit-sharing accord with workers while rifts between the Brazilian state-controlled company and unions escalate, the Valor Economico newspaper reported on Nov. 22.
According to Valor, Petrobras intends to modify aspects of the PLR, as the profit-sharing mechanism is commonly known.
Unions leaders told the newspaper that the proposal could include barring a current rule that would guarantee a one-time bonus for workers even if the company posts an annual loss.
Unions are challenging efforts by Petrobras' CEO, Pedro Parente, to dispose of assets and limit pay raises. Parente claims such actions could help prevent the company's $130 billion debt from growing.
Workers are considering a stoppage on Nov. 30 to protest a potential revision of the profit-sharing agreement, according to the newspaper.
Rio de Janeiro-based Petrobras, as well as the media offices for unions representing oil workers in the states of Sergipe and Alagoas, did not respond to requests for immediate comment.
Last week, Parente vowed to stick to a $15.1 billion asset sale goal for the two years ending in 2016, signaling that Petrobras is making headway on its downsizing plan.
Unions recently won an injunction to halt the sale of the Bauna and Tartaruga Verde fields to Karoon Gas Australia Ltd. Petrobras has vowed to appeal the injunction, Valor said.
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