As the
first step of the new corporate strategy launched to prepare for
liberalization, MATÁV made a decision on taking significant measures.
The major components of the program include restructuring the area of
fixed line services that will be accompanied at MATÁV by a 16%
headcount reduction and accelerated depreciation of certain analog and
other assets. At the same time focus will shift to high growth areas
(mobile, Internet, data communication), including the possibility of
geographical expansion. According to a Board resolution adopted
yesterday MATÁV will submit a binding bid for the purchase of a 51%
ownership share of the Macedonian telephone company.
Restructuring to prepare for liberalization
2000. 12. 08. 00:00:00
Budapest,
Elek Straub, Matáv's Chairman-Chief Executive Officer said: "The
objective of the restructuring program is to redefine the focus of the
company's operations to better follow rapid changes in technology and
consumption patterns. MATÁV will reallocate substantial human and
financial resources to the mobile communications, data communication
and Internet areas. The company has already achieved a strong position
in these fully liberalized areas thereby contributing to the growth of
the Hungarian infocommunication industry and creating the possibility
of further development."
As a result of the restructuring efforts about 150 organization units
will be discontinued. The technical area will be completely
reorganized, some directorates will cease to operate, while new
directorates will be established. Customer care organizations will also
be affected by restructuring; reorganization is expected to produce
significant efficiency improvement in this area too.
The above changes will be carried out over the next months in several
steps and completed by the end of 2001. MATÁV estimates that this
restructuring program will require about HUF 13-15 billion one-time
expenditure in 2000 that includes the costs of restructuring, severance
payments and write-offs.
Contacts
Press Contacts
Corporate Communications Directorate
