Enel launches voluntary layoff program at recently acquired Brazil unit

SAO PAULO: Italian utility Enel Spa has launched a voluntary layoff program at the Brazilian power distribution company it acquired last year for around $1.5 billion, the company said on Wednesday.

Employees older than 55 who have worked for the distribution company more than eight years have been able to apply since December, it said in an email to Reuters. Documents seen by Reuters show the program will be open until Jan. 17.

Enel did not give details of how many people had accepted so far. One source with knowledge of the matter said that around 180 employees of the 3,000 eligible workforce had already taken buyouts.

Enel renamed Eletropaulo Metropolitana to Enel Distribuição São Paulo in December.