EDF Démász eliminates about 200 positions

Banking

Regional electricity distributor EDF Démász is eliminating 198 full-time positions, local daily Délmagyarország said on Wednesday. The affected staff – 14% of the total at EDF Démász – are leaving on a voluntary basis, swayed by attractive severance packages, the paper said. EDF Démász's communications department told the paper that it was burdened by regulatory and tax changes, together with its peers. It noted the new tax on utilities lines and the higher corporate tax for energy service providers, now at a rate of 50% with the 31% “Robin Hood” tax. These burdens have forced EDF Démász to cut back not only on investments, but on operating costs, too, it said.

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