Brazil oil workers plan two-day strike to protest Petrobras austerity turn

RIO DE JANEIRO, May 15 (Reuters) - Brazil's federation of oil workers, known as FUP, announced on Thursday a two-day warning strike at state-run oil company Petrobras PETR4.SA to protest "against the stagnation in negotiations with the company," according to a statement.

The strike, which still needs final approval by union members, is set to take place on May 29 and May 30, and comes as the company pledges to take austerity measures to cope with lower oil prices.

Petrobras earlier this week reported a first-quarter net profit of 35.2 billion reais ($6.25 billion), but said that lower Brent crude oil prices would require the firm to cut costs where possible.

"Dissatisfaction increased after statements by Petrobras' Chief Executive Magda Chambriard signaling expense containment plans, even in the face of the company's positive financial performance," FUP said in the statement.

The main negotiations between the union and the company are around Petrobras' variable compensation plan and the cost-cutting policy, which FUP called "incoherent".

Petrobras said in a statement that it was not officially notified about the strike, adding that it respects the workers' right to demonstrate.

($1 = 5.6275 reais)