Magyar Telekom, Unions Agree on Wage Raise

Telco

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.

Ministry Dismisses Suggestion That Hungary is 'Poorest' EU S... Figures

Ministry Dismisses Suggestion That Hungary is 'Poorest' EU S...

Economic Cooperation 'Firm Foundation' for German-Hungarian ... Int’l Relations

Economic Cooperation 'Firm Foundation' for German-Hungarian ...

Summer Season in Full Swing at Budapest Airport Transport

Summer Season in Full Swing at Budapest Airport

Sziget Tops Slingo Music Festival Ranking In Budapest

Sziget Tops Slingo Music Festival Ranking

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.