Magyar Telekom, Unions Agree on Wage Raise
Magyar Telekom Headquarters
Magyar Telekom on Monday said it reached an agreement with unions on pay rises and one-off compensation to counter the effects of inflation, according to a report by state news wire MTI.
Magyar Telekom will pay HUF 3 billion to employees to help cover higher living costs, to be booked in Q3 2022. From January 1, 2023, salary increases will add HUF 4.2 bln to payroll costs.
The company said it will not start a headcount reduction program but has put in place a voluntary scheme "with a limited scope".
The deal impacts employees at Magyar Telekom and T-Systems Hungary.
Magyar Telekom's payroll costs reached HUF 75.9 bln last year.
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