Magyar Telekom has agreed on an average salary increase of 5% and the layoff of maximum 450 persons with the interest representation organizations operating at the company.
According to the agreement, as of April 1, 2020, Magyar Telekom's non-executive employees will receive an average 5% salary development. In addition, as of January 1, 2020, the benefits provided within the cafeteria system will be standardized at the highest value currently granted, regardless of the job category.
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 reorganization will continue in 2020 to have a more efficient and streamlined organization that responds faster to customer needs and market changes. To this end, the company has agreed with the interest representative organisations to reduce the number of employees with a maximum of 450 persons.
The majority of the involved employees are expected to leave the company during the first quarter of 2020. It is also possible that employees voluntarily inform their managers on their intention to leave. Magyar Telekom supports the re-employment of exiting employees through active job search, job market training and personal counseling within the framework of the well-functioning Opportunity Program.
(C) 2019 Electronic News Publishing, source ENP Newswire