Petrobras & Oil Workers Union to Hold Wage Talks Monday

Brazilian oil workers are scheduled to meet with officials from Petrobras on Monday to discuss wage increases. Brazil's Oil Workers Federation, known as FUP, on Thursday reiterated in an assembly their rejection of a 10.7% salary hike proposed by Petrobras. They will decide next week whether to hold a three-day strike, a FUP spokeswoman said.

Petrobras made the offer last week. Apart from the 10.7% wage hike, the oil group is also proposing to "promote" all employees to a higher salary bracket, which would add another 5% to their revenue.

The union doesn't consider the 5% a salary increase and found the offer unacceptable. Workers are demanding a 15.5% readjustment to compensate for inflation, plus a 6.8% hike which would count as their share of the company's productivity gains in the period.

Brazil's oil workers went on a 24-hour warning strike in early September to ask Petrobras for the 22.3% pay increase.