TeleGeography Logo

MT, unions agree on 15% cut in workforce

3 Oct 2007

Hungary’s largest telecoms company Magyar Telekom (MT) has agreed terms with unions representing its workers to cut its workforce by 15% by the end of 2008, resulting in a 5% saving in employees’ costs. The move is expected to cost HUF24 billion (USD135 million) in severance payments in fiscal year 2007; payments in 1H 2007 for redundancies amounted to HUF7.3 billion. However, the decision will result in savings of HUF13 billion at a group level, going forward. Deutsche Telekom-controlled MT and the unions also agreed a pay rise of 5.5% effective from March 2008.

Hungary, Magyar Telekom

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.


TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.