Calçados Reichert, one of Brazil's largest and most traditional footwear manufacturers is to close all 20 of its factories operating in the Vale do Sinos region and other regions of the state of Rio Grande do Sul, resulting in approximately 4,000 job cuts. The news was confirmed by Ernani Reuter, director of the company, following months of speculation regarding the future of the group. Mr Reuter stated, "The closure process, which does not include our tannery or the last factory, is expected to be completed by the end of July."

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