One

Type
Internal restructuring
Country
Austria
Region
Ostösterreich; Wien;
Location of affected unit(s)
Wien
Sector
Information / Communication
Information Communication Services
Telecommunications
61 - Telecommunications
225 jobs
Number of planned job losses
Job loss
Announcement Date
12 May 2004
Employment effect (start)
Foreseen end date

Description

In the context of intensified competition within Austria's mobile phone market, the country's third largest mobile phone provider, One, announced the dismissal of 225 of its 1,104 employees within the next months. The workforce concerned by the restructuring is not yet specified, and should be by the end of June 2004. According to management, the savings done in labour costs will be allocated to the marketing department. The company's CEO, Jorgen Bang-Jensen, indicated that a social plan for the employees concerned is being worked out. Moreover, it is planned to set up a special fund for hardship compensation financed by parts of the managers' salaries.

Sources

  • 12 May 2004: Wirtschaftsblatt
  • 13 May 2004: Der Standard

Citation

Eurofound (2004), One, Internal restructuring in Austria, factsheet number 60353, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60353.