Telenor Hungary confirms layoff plans
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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.