Croatia's Hrvatski Telekom to Lay Off 450 Staff
Published on: 11th Jan 2012
Note -- this news article is more than a year old.
Croatia's Hrvatski Telekom (HT) has announced plans to lay off around 450 staff. The company cited technology improvements and the overall economic situation as reasons for the redundancies.
The company currently has around 5,950 employees.
When leaving the Company, employees are paid out severance packages in average gross amounts of 360,000 HRK, which equals two years of average salary at the company.
During the notice period, employees do not have to come to work while keeping all the rights resulting from the Collective Agreement.
Hrvatski Telekom is listed on the local stock exchange and 51% owned by Deutsche Telekom.