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Mexico's Pemex confirms that cuts will entail layoffs

Friday, February 19, 2016

Cuts to the 2016 budget of Mexican state-owned oil company Pemex will entail layoffs, CEO Jose Antonio Gonzalez said Thursday.

"Undoubtedly there will have to be personnel adjustments," Gonzalez said in an interview with leading Mexican broadcaster Televisa, although he did not indicate how many employees would be laid off.

Source: Efe