Lights out, aircon off for workers at Brazil’s Oi as it slashes prices
A stringent cost cutting program at debt-burdened Oi SA has hundreds of measures – including leaving the firm of the Brazilian telecommunication ‘s 17,000 staff sweltering in work late in its offices. the dark if they
Chief Executive Bayard Gontijo said in an interview on Monday that the firm’s rigorous new 7 p.m. policy to switch off the air conditioning and turn off the lights is both a source of electricity savings and a large manner of reinforcing a crackdown on the number of overtime worked.
“The very first time we turned off the lights, people wanted to stay. They were attempting to work with lighters. Now they understand: the lights are turned off because you guys need to do your work in the standard shift and then you’ve got to leave,” said Gontijo.
The Brazilian constitution mandates a pay lump of at least 50 percent for work beyond eight hours every day. The tighter overtime policy and also a hiring freeze helped Oi reduce staff costs 10 percent in the first quarter before the phone company cut full-time occupations by 6 percent in April.
Oi has been fighting with mounting losses following a number of missteps and a massive debt load. Enhancing operating margins and the slimmer administrative structure have given more time to contemplate enormous strategic moves in Brazil and Africa to Oi, Gontijo told Reuters during a visit to New York on an investor roadshow.FREE QUOTE:
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