Hungary’s largest telecoms company Magyar Telekom (MT) has agreed terms with unions representing its workers to cut its workforce by 15% by the end of 2008, resulting in a 5% saving in employees’ costs. The move is expected to cost HUF24 billion (USD135 million) in severance payments in fiscal year 2007; payments in 1H 2007 for redundancies amounted to HUF7.3 billion. However, the decision will result in savings of HUF13 billion at a group level, going forward. Deutsche Telekom-controlled MT and the unions also agreed a pay rise of 5.5% effective from March 2008.
Have feedback, corrections, or story ideas? Send them to firstname.lastname@example.org.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors