NEWS

Greece's OTE aims to shed 350 workers in voluntary redundancy scheme

TAGS: Business

Greece’s dominant telecoms operator OTE has launched a voluntary redundancy scheme and about 350 workers are expected to sign up for it, the company said on Wednesday.

Forty percent-managed and -owned by Deutsche Telekom, OTE has cut about 4,000 jobs through voluntary programs since 2012 to deal with almost seven years of recession and tough competition in the country.

The redundancy program – mainly extended to workers close to retiring – is expected to cost about 54 million euros.

It was part of company policy to boost competitiveness and renew its human resources, OTE said.

[Reuters]

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