gerdau

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Gerdau is undergoing significant workforce reductions in Pernambuco despite posting strong financial results.

The Brazilian steel company Gerdau has been in the news due to a substantial reduction in its workforce and closure of some factory sectors in Pernambuco, citing challenging market conditions as the reason. This move comes even as the company reported a notable increase in net profit, reaching R$ 1.5 billion in the second quarter, indicating a nearly 70% rise.