Petrobras Approves Voluntary Separation Plan for About 1,100 Pre‑2019 INSS Retirees

Overview

• The board cleared a voluntary separation program limited to active employees who retired through INSS before Brazil’s 2019 pension reform.
• Enrollment will run from January 5 to February 6, 2026, with nine scheduled exit dates from March to December 2026.
• Each exit window will accommodate up to 120 separations, and participants may withdraw up to ten days before their scheduled departure.
• The incentive equals 14 salary-based calculation bases, subject to a R$300,000 minimum and R$1 million cap, in addition to standard severance entitlements.
• Petrobras will recognize the financial impact as sign-ups are confirmed and says the program aligns with its business plan and efficiency goals as oil prices lag last year.