Budapest, October 31, 2024 10:00

Magyar Telekom has reached an agreement with the trade unions on a differentiated, general increase in employee salaries, amounting to 6% on average for 2025. Also, the company will pay a gross one-off bonus of HUF 745 000 to all employees and increase the annual health benefits available to colleagues. In response to the changes in the labor market and as part of the continuous efficiency improvement the company will terminate 120 positions next year.

According to the agreement the employees of Magyar Telekom Plc. and Telekom System Integration Ltd. will receive a differentiated, general increase in salaries, amounting to 6 percent on average from March 1, 2025. In addition, the company will pay a gross one-off bonus of HUF 745 000 to its employees in December 2024 as a recognition of the company's achievements in 2024. Emphasizing the importance of preserving health Magyar Telekom's colleagues may use the Telekom Health service from this December, introduced for customers in July this year, and the company will double the annual health related benefits available to employees in 2025.

In our dynamically changing world, agile and rapid operation is required from every market player. In response to the changes in the labor market and as part of the continuous efficiency improvementMagyar Telekom and the trade unions decided to terminate ca. 120 positions as part of the agreement. The majority of the terminations expected to be carried out in the first quarter of 2025. The employees involved will receive an additional one month's severance payment above the amount specified in the Collective Agreement.

Magyar Telekom will continue to work next year in order to remain a stable and reliable player in the Hungarian economy.