Internal restructuring
Location of affected unit(s)
Information / Communication
Information Communication Services
61 - Telecommunications

1,800 jobs
Number of planned job losses
Job loss
Announcement Date
8 November 2007
Employment effect (start)
1 January 2008
Foreseen end date
31 December 2008


Magyar Telekom, a Hungarian group that operates in the telecommunications sector, has announced that it is to cut 1,800 jobs mainly at one of its member companies, Magyar Telekom Nyrt. The job losses will be implemented from January to December 2008, and have been attributed by group management to the need to make the firm more efficient. The job losses will primarily affect managerial staff, and it is estimated that approximately 38 per cent fewer managers will be employed at the subsidiary following the restructuring. The group expects to make a 13 billion HUF saving in labour costs from the restructuring. The group has reached an agreement with trade unions regarding the restructuring, and will pay 24 billion HUF in redundancy payments to affected employees. The group also expects to develop further restructuring plans for its other subsidiaries, but has yet to make any announcements on this. Magyar Telecom employs 12,300 in Hungary.


  • 8 November 2007: Népszabadság


Eurofound (2007), Magyar Telekom, Internal restructuring in Hungary, factsheet number 66004, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66004.