OTE early retirement

Fixed-line phone company OTE said yesterday it was sticking to a scheduled August date for the announcement of figures in its early retirement plan, dampening worries over a report suggesting delays. «We will release initial figures on applicants for the early retirement plan on Aug. 31, when we will report first-half results,» a company official told Reuters. The official declined to comment on a report in Kathimerini which said about 400 workers will retire this year, with the bulk of voluntary redundancies expected after February 2006. OTE had said last month it expected 900 employees to leave this year, of which 620 are expected to retire under its existing early retirement plan. Analysts said the Kathimerini report indicated a slower pace of staff cuts. (Reuters)

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