My company was bought out by Brazilians about 6 years ago to the same thing. Unfortunately, when the company came to the USA they bought the "best lawyers" and totally screwed up their first buyouts. But my company drastically improved conditions and still is. It's heavy manufacturing and it's gone from being "better than average" safety which was passable for American Management to Very Good safety. Again, less focus on firing people and more on managing them so they don't screw up in the first place.
I've seen some of the numbers and our division leads the overall company in the production per man-hour metrics by a wide margin. Of course with wage adjustments and other expenses that comes back down, but "low profit" was more about American managers bleeding red ink out of the "office" end of the business, not the worker's end. Had it not been for their management in the 2008 crash, we'd be closed now and out of a job... our American parents back then had absolutely no "business skill" in running us.