German telecommunications company Deutsche Telekom AG (DTE.XE)
has reached an agreement with union representatives in Hungary to
scrap 500 jobs in the country due to the generally difficult
economic conditions in Europe, the company's Europe head Claudia
Nemat told German newspaper Handelsblatt.
In a preview of Tuesday's edition, Handelsblatt reports that Ms.
Nemat doesn't expect European business to improve before 2014. At
the moment, the focus is on slowing the decline in sales, she told
the business paper, and that this has been successful.
"We want to continue in this direction and return to very
moderate growth in 2014," Ms. Nemat said.
To reach this goal however, more job cuts are necessary, she
said. In addition to job reductions in Hungary, the company is also
having talks in Greece, she added.
Selling its 40% stake in Greek company Hellenic
Telecommunications Organization, or OTE, (HTO.AT) isn't up for
discussion, Ms. Nemat told Handelsblatt. "OTE is profitable and
gaining more customers," she said.
Newspaper website: http://www.handelsblatt.com
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