The number may rise by month-end, the deadline for the plan proposed by the oil giant known as Petrobras. Around 12,000 employees, or 21 percent of its workforce, are eligible.

If all eligible employees accepted the voluntary layoff program, Petrobras would face an immediate cost of 4.4 billion reais ($1.3 billion) but save 33 billion reais in salaries over the next four years, the company said upon announcing the plan.

($1 = 3.228 Brazilian reais)

(Reporting by Marta Nogueira; Writing by Tatiana Bautzer; Editing by Phil Berlowitz)