Sadia reports loss, cuts jobs
Brazilian meat processor Sadia S.A. will cut 350 administrative jobs, said the company’s Chairman Luiz Furlan, adding that these measures will save approx. $18 mln a year.
It has been reported that Sadia, one of Brazil’s largest meat processors and an international player in beef, pork, chicken and turkey, suffered huge losses on foreign exchange futures in 2008 when the US dollar appreciated against the Brazilian currency, the real.
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