SAO PAULO, March 11 (Reuters) - Brazilian payments firm

StoneCo ( STNE ) has cut about 370 jobs, local newspaper Valor

Economico reported on Wednesday, citing an estimate based on

reports from employees.

* The cuts have affected different areas within the

company and represent about 3% of StoneCo's ( STNE ) total staff, Valor

added.

* StoneCo ( STNE ) said it has made a "one-off adjustment in its

structure as part of an ongoing process of simplification and

efficiency gains."

* The company did not say the number of workers that it

has cut nor the impacted areas.

* Sao Paulo union for information technology workers

Sindpd-SP called the move a "mass layoff," noting it had

happened during talks for a new collective labor agreement.

* The union, which also did not mention the size of the

cuts, said it is going to the court to request the workers

regain their jobs.