Magyar Telekom To Dismiss 500

  • 4 Oct 2012 8:57 AM
Magyar Telekom To Dismiss 500
Magyar Telekom will dismiss 500 of its 7,500 employees, having reached agreement with its unions, the company said on Monday. Most of the workers will leave at the end of the year, reports Napi Gazdaság. The cuts do not include any retirements nor cuts in executive staff.

Magyar Telekom is renewing its organisational structure effective January 1, 2013. Severance payments will total about Ft 6 billion, most of which will affect fourth-quarter results. Magyar Telekom will raise wages by 4% from April 2014 to maintain the real value of remaining workers’ salaries.

Source: Hungary Around the Clock

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