Brazil's Embraer to furlough 15,000 workers ahead of Boeing deal - union

The logo of Brazilian aviation company Embraer is seen during the Latin American Business Aviation Conference & Exhibition fair (LABACE) at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS/Paulo Whitaker - Copyright PAULO WHITAKER(Reuters)

By Reuters

Published on 10/10/2019 - 23:04•Updated 10/05/2024 - 07:46

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SAO PAULO (Reuters) - Brazilian planemaker Embraer SA <EMBR3.SA> will furlough almost 15,000 workers in January, a metalworkers union said on Thursday, ahead of a partial takeover by Boeing Co <BA.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 (3.8 billion pounds), 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.