Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Magyar Telekom is to reduce its workforce by 250 and create 270 job positions until the end of 2014.
The company has agreed on the redundancies with labor representatives. According to the plan, most of the dismissals are to be made by the end of 2013. Additionally, to avoid further dismissals, there are no wage increases planned in 2013. With this initiative, the management intends to keep costs for staff at the 2012 level.
The creation of 270 jobs is planned until the end of 2014 and will supplement the company in the area of new technologies.
Magyar Telekom employs about 7,000 staff in the country. In 2012, the company had announced a job reduction measure affecting 500 staff.
Eurofound (2013), Magyar Telekom, Internal restructuring in Hungary, factsheet number 76074, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76074.