Company/Organisation:
Magyar Telekom
Geographic Location
Country:
Hungary
Region:
Budapest; Kozep-Magyarorszag; Kozep-Magyarorszag
Location of affected unit(s):
Budapest
Company
Sector:
Information / communication
Telecommunications
61 - Telecommunications
Employment Effects
Announcement Date:
18-10-2011
Planned Job Reductions min:
250
Type of Restructuring:
Internal restructuring
Employment Effect Start:
25-10-2011
Direct Dismissals:
250
Additional Information
On 18 October 2011, Hungarian telecommunications company Magyar Telecom agreed with the trade unions a social plans envisaging the layoff of 250 employees until 2012. This count does not include additional redundancies implemented through retirement and job cuts affecting 24% of executive positions.
Management and unions also agreed that there would be no general increase in base salary for employees in 2012. However, benefits in kind will be increased for low-earning employees due to personal income tax changes.
Sources:
19-10-2011Budapest Business Journal
18-10-2011Világ Gazdaság
18-10-2011MenedzserFórum
Sources Links:
http://www.mfor.hu/cikkek/250_ember_elbocsatasat_tervei_a_Magyar_Telekom.html
http://vg.hu/vallalatok/infokommunikacio/tobb-szaz-fos-leepites-a-magyar-telekomnal-360440
http://www.bbj.hu/business/magyar-telekom-to-cut-250-jobs_60916