Press Releases

Magyar Telekom reaches agreement with the trade unions

Budapest, October 4, 2017 13:00

Magyar Telekom – in order to ensure the resources related to the Company’s strategic objectives -  has reached an agreement with the trade unions on headcount reduction and wage increase measures for 2018.

According to the terms of the agreement, the Company plans to make ca. 350 parent company employees redundant. In addition, around a further 160 employees are expected to leave the Company as a result of a number of discontinued corporate projects. The majority of the employees to be made redundant are expected to have left the Company by the end of 2017. The company shall provide active job search, labor market training and one-on-one counselling to the colleagues laid off, in the framework of Program Chance, which has proven its success in the past years, and trusts that the above support these highly trained employees of up-to-date professional expertise in finding employment elsewhere as soon as possible.

It is planned to reinvest a significant proportion of the expected employee cost savings in resources related to the Company’s strategic objectives.

As from January 1, 2018, employee salaries at the Company will rise by an average of 5%.