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Economic crisis in Brazil

Two of the largest companies in Brazil are going through difficult times due to the economic crisis. Telecom operator Oi is in the process of judicial recovery, trying to negotiate debts that exceed BRL 65 billion. Oi is the largest telephone company in Brazil and has over 70 million customers. Only with the Federal Government, the company's debts amount to BRL 20 Billion. Meanwhile, Banco do Brasil will close 402 bank branches and reduce the performance of at least another 400, which will be transformed only into service stations without acting as bank branches. With the reduction of branches, Banco do Brasil expects to reduce 18,000 employees and save more than BRL 750 million per year. Images taken in Rio de Janeiro, Brazil, on November 25, 2016. (Photo by Luiz Souza/NurPhoto)

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