Oi informed the Court that its cash reserves in September were only R$ 0.01, which financially prevents it from honoring the agreement intended for paying severance payments to about a thousand dismissed employees. The total amount owed is estimated at R$ 72 million.
This situation arose after the Rio de Janeiro Court again declared Oi bankrupt. According to a report by the website Convergência Digital, although the salaries of currently employed staff are being paid on time, there is no defined date for the payment of severance packages.
Oi did not provide a specific deadline but suggested to the Court that former employees receive their amounts through pro-rata distributions, according to cash availability. If the collected amount is insufficient to cover all entitlements, the remaining balance will be included in subsequent distributions until full payment is made.
Of the total R$ 72 million, R$ 30.4 million refers to common severance payments, such as salary balance, notice period, and proportional vacation. The remaining R$ 41.6 million is designated for the FGTS fine. It is estimated that almost R$ 12 million should be paid in September as the first installment regarding the entitlements and the fund fine.
The original agreement, signed before the bankruptcy, stipulated different conditions. The 40% FGTS fine was supposed to be paid in full between 30 and 120 days after termination, depending on the salary bracket. Other entitlements would be distributed in six installments for those with a gross salary of up to R$ 5 thousand and in ten installments for others, with the first due 30 days after dismissal.
Additionally, the agreement provided for the continuation of the medical and hospital plan for a period of 90 days after termination, covering registered dependents. The company also committed not to deduct from the meal or food ticket balance credited in the month the employee was dismissed.
According to Oi, until the sale of Oi Soluções, the operator's corporate division focused on the B2B market (large government clients and companies), is completed, financial obligations must be adapted to the available cash flow. The company justifies this measure as essential to temporarily maintain its operations and ensure the provision of vital services.
However, the asset alienation process faces other impediments. A recent court order imposed new conditions regarding the company's assets, representing another development in the bankruptcy process.
The judicial administration recognized the importance of paying labor obligations and noted that when the agreement was reached, there was an expectation that the amounts would be paid as stipulated. However, with the declaration of bankruptcy, payments became subject to the rules of the legal process.
The decision on the proposal presented by Oi will be evaluated by Judge Simone Gastesi Chevrand, who works in the 7th Business Court of Rio de Janeiro.