Correios management has once again extended the collective agreement (ACT), which was due to expire on December 15, until February 28, 2026. The proposal was negotiated by the Superior Labor Court (TST) at the request of the company and will be submitted to workers’ assemblies next Tuesday.
According to the company’s internal press release, negotiations with worker representatives will continue until the collective agreement expires.
With the extension, all rights provided for in the current agreement remain assured, according to the document. Among them, daycare assistance, special assistance, 70% additional vacation. The only exception is the additional credit on the meal voucher already paid in full.
“The company emphasizes that, given current financial conditions, there is no immediate possibility of incurring this cost. However, no matter is automatically closed. As scenarios and studies evolve, specific issues may be revisited as part of TST’s mediation,” the statement said.
The current collective agreement was signed by the previous management of the state-owned company, expired in August and was extended due to the company’s financial crisis. The clauses include salary adjustments and other benefits due to inflation, retroactive to August.
The company is trying to relax the clauses that currently guarantee benefits higher than the minimum guaranteed by the Consolidation of Labor Laws (CLT). The vacation bonus, for example, is higher than that of other workers.
Correios contacted the TST following the announcement of a workers’ strike that would begin on December 16. If the strike is approved, the court will have to arbitrate some type of measure to prevent the public company from suffering further harm, with the discontinuity of services.
Meanwhile, the company’s management is rushing to close the loan with banks, given the Treasury’s resistance to investing public resources in the state-owned company. The banks have until Friday to send proposals with the conditions of the operation.
The new public offer was opened on Wednesday and the intention of the management of the public company is to overcome bureaucratic procedures over the weekend and submit the proposal for approval to the National Treasury on Monday.
The company requested an amount of R$20 billion, taking into account the need for liquidity to close the accounts for this year and 2026, but the amount is expected to be between R$10 and 15 billion. The value will depend on the number of banks that join the consortium, said an interlocutor.
The offer was open to several banks and, as determined by the government, Caixa Econômica Federal and Banco do Brasil will participate in the pool of banks that will finance the public company. The loan is conditional on a restructuring plan for Correios including measures to reduce costs and increase revenues so that the state-owned company returns to profit in 2027.
In the last round, the pool of banks, formed by Citibank, BTG Pactual, ABC Brasil, Banco do Brasil and Safra, proposed interest equivalent to 136% of the Interbank Certificate of Deposit (CDI), the benchmark rate for daily lending between banks to grant a loan of 20 billion reais.
The proposal was rejected by the Treasury, precisely because it exceeded the normally observed standard of 120% of the CDI for operations with Union approval.
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