Brazil unveils $10 bln scheme to protect jobs threatened by coronavirus

BRASILIA, April 1 (Reuters) – Brazil’s government on Wednesday launched a program that will allow companies hit by the coronavirus crisis to reduce workers’ salaries and hours, or temporarily suspend contracts, in order to preserve as many jobs as possible.

The program could potentially help save up to 12 million jobs, according to Economy Ministry estimates, and will cost the Treasury 51 billion reais ($10 billion).

By Marcela Ayres and Gabriel Ponte via Yahoo Finance

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