Matáv

Type
Internal restructuring
Country
Hungary
Region
Location of affected unit(s)
Sector
Information / Communication
Information Communication Services
Telecommunications
61 - Telecommunications
2,600 jobs
Number of planned job losses
Job loss
Announcement Date
26 April 2005
Employment effect (start)
Foreseen end date
31 December 2006

Description

Matáv, a partially state-owned telecommunications company is planning significant dismissals, reported Hungarian daily newspaper Magyar Nemzet. The newspaper refers to a press release from the Ministry of Employment and Labour for Employment Committee of Parliament. The dismissals, with starting effects in April 2005, are implemented to increase efficiency. The planned job reduction will affect 2,600 employees in total. The company is to reduce the number of managers by 350. The Ministry plans further dismissals in other state-owned companies in the immediate future, announced the newspaper.

Sources

  • 26 April 2005: Magyar Nemzet
  • 26 April 2005: Világgazdaság
  • : (www.mno.hu)

Citation

Eurofound (2005), Matáv, Internal restructuring in Hungary, factsheet number 61467, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61467.