Budapest; Kozep-Magyarorszag; Kozep-Magyarorszag
Location of affected unit(s):
Information / communication
61 - Telecommunications
Planned Job Reductions min:
Type of Restructuring:
Employment Effect Start:
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.
19-10-2011Budapest Business Journal