Magyar Telekom has reached an agreement with the interest representation organisations operating at the company.
It will see it reduce the number of employees by a maximum of 450, with the majority expected to leave in the first quarter of 2020. It is also possible that employees voluntarily inform their managers of their intention to leave.
As part of the agreement, Magyar Telekom’s non-executive employees will receive an average salary increase of 5% as of April 1, 2020.
Commenting on the staff reduction the company says: “Magyar Telekom also intends to maintain its market leading position in the intensifying competition and will continue to invest significant resources in achieving its network development objectives. The reorganisation will continue in 2020 to have a more efficient and streamlined organisation that responds faster to customer needs and market changes”.
