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Magyar Telekom, unions agree headcount cut-statement
July 24, 2014 / 8:00 AM / in 3 years

Magyar Telekom, unions agree headcount cut-statement

BUDAPEST, July 24 (Reuters) - Magyar Telekom, Hungary’s biggest telecom firm has agreed with trade unions on a cut of maximum 1,700 in its headcount by January 1, 2016, it said in a statement on Thursday.

It said the 2-year headcount cut programme would cost about 12 billion forints in severance payments and out of that around 4 billion forints would be accounted for in September 2014.

The measures are still expected to save a net 15 billion forints in two years even including a planned 4 percent wage hike for employees in lower wage categories, the company added. (Reporting by Sandor Peto)

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