Brief: Magyar Telekom agrees on wage hikes, one-off inflation compensation

Magyar Telekom Telecommunications Public

05/09/2022 10:18

Sept 5 (Reuters) - Magyar Telekom Tavkozlesi Nyrt  MTEL.BU :
    * REACHED AN AGREEMENT WITH THE TRADE UNIONS ON PAY
INCREASES
    * WILL PROVIDE ONE-OFF COMPENSATION AMOUNTING TO HUF 3.0
BILLION
TO EMPLOYEES TO HELP WITH THE INCREASED COST OF LIVING RESULTING
FROM RISING INFLATION IN HUNGARY
    * FROM JANUARY 1, 2023, EMPLOYEE SALARIES WILL RISE, WHICH
IS
EXPECTED TO RESULT IN AN INCREASE OF HUF 4.2 BILLION IN EMPLOYEE
RELATED EXPENSES FOR 2023
    * HAS DECIDED NOT TO INITIATE A HEADCOUNT REDUCTION PROGRAM
BUT
HAS PUT IN PLACE A VOLUNTARY PROGRAM WITH A LIMITED SCOPE

Further company coverage:  MTEL.BU 

 (Reporting by Gergely Szakacs)
 ((gergely.szakacs@reuters.com ; https://twitter.com/szakacsg ;
+36 1 882 3606 ;
https://www.reuters.com/journalists/gergely-szakacs))