“Vale-Peru” is conducting negotiations with the unions and TST will arbitrate

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No agreement was reached between the parties during the two meetings conducted by the TST last Thursday. In this context, the company’s management proposed to extend the collective agreement, which was initially due to expire this Monday, until February 28, and to maintain negotiations until then.

The proposal will be submitted to assemblies on Tuesday so workers can decide whether to accept or go on strike, which would further worsen Correios’ financial situation. However, the labor movement is divided and the direction should be to reject the proposal if nothing changes by then.

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The current deal was signed by Correios’ previous management, expired in July and was extended. In addition to the additional voucher, the clauses include, among other things, retroactive replacement of salary and other benefits due to inflation and an additional 70% on vacation.

The company’s proposal that will be presented at the meetings does not provide for a salary adjustment or a “turkey voucher”, but maintains other benefits until the end of February.

— We have been negotiating since July, the agreement expired six months ago, without any readjustment. The company claims that it is not able to guarantee the replacement of inflation, but if it guarantees the additional voucher, we would present to the assemblies the recommendation to suspend the strike call and resume negotiations in February at the TST — said Emerson Marinho, general secretary of the National Federation of Workers of Post and Telegraph Companies (Fentect).

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The TST was called by the company’s management to avoid a general strike which would begin next Tuesday. If workers decide to strike, the court must decide on measures to prevent the movement from paralyzing the company, with fines for unions that do not comply with the decisions.

Meanwhile, Correios and the National Treasury are trying to advance the 12 billion reais loan proposal, presented by the country’s five largest banks: Itaú, Bradesco, Santander, Banco do Brasil and Caixa Econômica Federal.

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This Monday, Correios management transmits the draft contract for approval to the Treasury, guarantor of the operation. According to those involved in the discussions, the amount will be released in three installments, 6 billion reais this year and the rest in 2026.

The payment period was 15 years, with a grace period of three years and interest equivalent to 115% of the Interbank Deposit Certificate (CDI) per year, the reference rate for daily loans between banks and Selic relatives. Below the standard normally observed, of 120% of the CDI, for operations with Union approval.

In the last round, the pool A group of banks, formed by Citibank, BTG Pactual, ABC Brasil, Banco do Brasil and Safra, offered an interest equivalent to 136% of the CDI to grant a loan of 20 billion reais.

The loan is conditional on a restructuring plan for Correios, with measures to reduce costs and increase revenues so that the state-owned company returns to profit in 2027.