Hrvatski Telekom to let go of 100 surplus workers by March 31

Hrvatski Telekom to let go of 100 surplus workers by March 31 Author: Hrvatski Telekom. License: All rights reserved.

ZAGREB (Croatia), February 14 (SeeNews) - Croatia's biggest telecommunications operator, Hrvatski Telekom [ZSE:HT-R-A], said on Tuesday it will dismiss 100 surplus workers as it continues with the process of business transformation.

Hrvatski Telekom will terminate the employment contracts of the surplus workforce by March 31, with the aim of maintaining operational efficiency and providing the potential for long-term, sustainable growth, it said in a filing to the Zagreb bourse.

This is the lowest number of workers leaving the company since HT started with the transformation process, according to the filing.

"HT approaches the downsizing process with full social sensitivity and responsibility. With a severance guaranteed in a collective agreement, HT passed a decision on additional, incentive severance to be paid to workers, depending on years of service in the company", it said. "Also, certain categories of workers will be paid a special supplement in the amount of 6 employee's salaries".

Employees who leave the company receive a severance payment that in the average amounts to 230,000 kuna ($32,600/30,900 euro), equivalent to 1.5-year average wage in HT.

"The telecommunications industry HT operates in is rapidly changing and the constant adaptation and transformation is necessary in order to maintain the leading position and ensure the future growth and development", the company noted.

In January, Hrvatski Telekom said it has signed a share purchase agreement with Hungary's Magyar Telekom to acquire a 76.53% stake in Montenegro's Crnogorski Telekom.

(1 euro=7.45205 kuna)

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