RIO DE JANEIRO, Brazil, Dec 19 (Reuters) - Brazil's financially troubled and recently grounded airline Transbrasil (TRBR4) said on Wednesday it will shed as many as 1,000 workers, paring its staff down to 1,200. But the company, which has been paralyzed for 16 days by its inability to pay debts and operating costs, said it did not have money to pay severance packages as required by Brazilian law. "Transbrasil will give complete attention to these professionals when it regains financial and operational equilibrium in its activities," the company said in a statement. Transbrasil, which was Brazil's fourth largest airline, will lose its operating license if it fails to operate flights for 30 days, according to the Department of Civil Aviation (DAC). The company said it would continue negotiating with creditors to find a way to begin operating by the first week of January. The company said 300 employees had agreed to voluntary dismissal, 300 others were fired earlier this week and another 400 workers would be cut in the coming weeks. Transbrasil said its reduced fleet of 12 planes, only five of which are now in working condition, could not justify the larger work force, an argument it has used in recent months when the company announced staff cuts from 4,200 to 2,200. The carrier blamed the Brazilian government for the job cuts citing the "lack of a positive response on the part of the government in helping the company receive what it has the right to receive." The company says it is waiting on a tax refund of 335 million reais for the 1989-1994 period as well as a 15 million real credit from BR Distribuidora (BRDT4), a subsidiary of Petrobras (PETR4), for fuel. ($1=2.296 reais) ©2001 Reuters Limited.