Grupo BTG Pactual Fires Workers in Chile in Cost-Cutting Effort

  • Brazilian bank said it will trim 58 positions in Chile unit
  • Reductions are part of plan to lower firm's costs by 25%

Grupo BTG Pactual SA, the Brazilian investment bank that sought rescue financing after the arrest of its founder last year, said it is cutting about 15 percent of its workforce in Chile as part of a cost-savings effort.

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