Greece / Hellenic Telecommunications Organization (HTO) / 1,500 Jobs Cut

Greece’s Hellenic Telecommunications Organization (HLTOY) said Monday around 1,500 workers took part in its voluntary redundancy plan, enabling the company to reduce operating costs significantly and improve its competitiveness.

The company estimates that its costs will be reduced by 80 million euros ($104.5 million) annually.

Since the beginning of January, “the number of OTE employees has been increased significantly–exceeding the goal set–as 1,516 people accepted the incentives offered by the company,” the company said in a statement.

Choosen excerpts by Job Market Monitor from

via Greece’s HTO Sheds 1,500 Jobs With Voluntary Redundancy | Fox Business.