Brazil’s Embraer to furlough 15,000 workers ahead of Boeing deal: union By Reuters


SAO PAULO (Reuters) – Brazilian planemaker Embraer SA (SA:) will furlough almost 15,000 workers in January, a metalworkers union said on Thursday, ahead of a partial takeover by Boeing Co (N:) as part of a deal that still needs regulatory approval.

Boeing has agreed to buy 80% of Embraer’s commercial plane division for $4.75 billion, a deal approved by shareholders and the Brazilian government but which is undergoing an intensive regulatory investigation in Europe. Embraer has said it expects the deal to close in early 2020.

Embraer did not immediately respond to a request for comment.

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