Magyar Telekom plans 12% wage hike on average and no layoffs next year

BUDAPEST (Reuters) – Hungary’s Magyar Telekom plans an average 12% wage hike and no layoffs next year, the company said in a statement on Monday.

The general increase in employee salaries will be implemented from May 1, 2024, the statement read.

(Reporting by Boldizsar Gyori, Editing by Alan Charlish)