Hellenic Telecommunications Organization (OTE)

Type
Internal restructuring
Country
Greece
Region
Location of affected unit(s)
Sector
Information / Computing
61 - Telecommunication
61 - Telecommunication
61 - Telecommunication
1,827 jobs
Number of planned job losses
Job loss
500 jobs
Number of planned job creations
Job creation
Announcement Date
14 November 2013
Employment effect (start)
30 November 2013
Foreseen end date
31 December 2014

Description

Hellenic Telecommunications Organization (OTE) announced a voluntary redundancy plan for 1,100 employees.

According to media reports, the restructuring plan will concern employees close to retirement, those with 25 years of employment at OTE and also specific job categories (lawyers and cleaners).

As reported, the cost-saving plan is aimed to increase competitiveness.

For information on the most recent restructuring see OTE-2012. 

Updated, 07-01-2014: As reported, 1,827 staff participated in the voluntary redundancy programme.  OTE also announced plans to hire 500 new staff in 2014. The company also refers to the creation of 500 new jobs in 2013.

Sources

  • 7 January 2014: OTE (Press release)
  • 14 November 2013: Skai
  • 14 November 2013: OTE (Press release)

Citation

Eurofound (2013), Hellenic Telecommunications Organization (OTE), Internal restructuring in Greece, factsheet number 76179, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76179.