Telenor Hungary confirms layoff plans

Competition

Telenor Hungary is laying off 100-120 employees due to restructuring, the telecommunications firm confirmed to Hungarian wire service MTI late Monday, addressing media reports.

According to the Hungarian subsidiary of the multinational, cutting jobs is seen as a way of boosting efficiency while keeping the company competitive.

Hungarian media reported on Monday that Telenor would be laying off one in ten of its somewhat more than 1,000 staff in Hungary, working in support positions, such as finance, marketing and IT. 

Telenor said that it supports voluntary redundancies, as well as offering higher compensation than set by related laws, according to Hungarian online daily index.hu.

The telco reportedly informed staff about the redundancy list last March 14.

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