Press Releases

Budapest, September 19, 2002

On September 17th, in course of the usual annual reconciliation meetings, Matáv and the collective bargaining partners reached an agreement regarding the headcount changes to take place during 2003 and 2004 and the 2003 benefits. In order to promote efficiency improvement, the group-level headcount reduction shall be approximately 9% next year and 3% in 2004. Matáv shall launch a program to support employees impacted by headcount reduction to find opportunities of employment.

In compliance with the Collective Agreement, Matáv has conducted annual reconciliation meetings with the collective bargaining bodies, since 1994. At the present reconciliation sessions, the Parties have reached a compromise in each issue. In accordance with the corporate-level headcount efficiency requirements, downsizing will be 1100 in 2003 and 250 in 2004. The headcount of the subsidiaries shall decrease by 330 people in 2003 and 200 people in 2004. Therefore, the headcount reduction measures of the mother company and the subsidiaries will add up to a 1430 decrease of the Group’s year-end headcount in 2003 and 450 in 2004. The details of the reduction plan will be elaborated by the end of 2002.

The 2003 wage increase will result in a 6.4% average wage increase within Matáv Rt. over the whole year. As part of this, 7% of general wage increase shall take place as of April 1, 2003 and an additional 1.5% of increase shall promote some labor-force policy purposes during the rest of the year.
Matáv shall launch a program to support the employees impacted by the headcount reduction in finding opportunities of employment. Training courses are provided and other measures are to promote the employment of as many colleagues as possible by other employers. Additionally, Matáv undertakes to subsidize the health-care fund accounts of the employees for one year upon termination of employment.