MEXICO CITY (Reuters) -Mexico’s Pemex, the world’s most indebted energy company, said on Wednesday that it plans to save 4.8 billion pesos ($250.04 million) over the next two years as part of an institutional reorganization.
In a regulatory filing, the state behemoth said 3.53 billion pesos would be saved this year and the rest the following.
It is about half of what had been laid out in an earlier document dated April seen by Reuters, though two sources told the news agency in May that the plan had significantly changed since then.
Layoffs at one of the country’s largest employers would make up 1.4% of historical full-time positions, Pemex said on Wednesday, adding that 71% of its total payroll spending would go to operational areas.
($1 = 19.1973 Mexican pesos)
(Reporting by Ana Isabel Martinez; Writing by Stefanie Eschenbacher; Editing by Kylie Madry)
