Brazil's Correios files unfair strike case at TST during bank loan negotiations
The Brazilian postal operator filed a collective labor dispute requesting the Superior Court of Labor to rule the nationwide strike abusive. Simultaneously, the company is negotiating a R$ 7 billion refinancing deal with banks guaranteed by the national treasury.
Correios, the Brazilian postal service state-owned enterprise, submitted a request to the Tribunal Superior do Trabalho (TST) on Friday seeking a declaration that an ongoing nationwide strike is abusive. The strike was initiated Thursday night following failed negotiations regarding salary increases and social clauses, with labor arbitration left to the TST if no agreement is reached before October 15. The company indicated it entered this legal step while simultaneously negotiating a R$ 7 billion credit line with a consortium of banks as part of its restructuring efforts. The loan is expected to carry national treasury guarantees and aims to alleviate fiscal pressure, though the leadership views the strike as a significant threat to service quality during this financial reorganization period.
