Slovak Telecom will lay off 60 percent of its employees by 2006

SLOVAK TELECOM (ST) a.s. is going through a restructuring process that will see more than 4,000 people lose their jobs in the next two years, company spokesman Radoslav Bielka told news wire TASR.

"The restructuring started in 2000 with the entry of Deutsche Telecom, and the ongoing transformation is also being advanced by development on the Slovak telecommunication market, he said. The penetration of domestic, fixed-line phones is down to 26 percent while mobiles have gone up to 74 percent," said Bielka.

The ST workforce dropped from almost 13,000 employees in 2000 to 6,727 at the end of last year. By the end of 2006 the workforce should be down by a further 60 percent, to only 2,700 employees.

The company will provide severance payments to the redundant employees. It will also provide free re-training courses that have previously helped almost 99 percent of the ex-Slovak Telecom employees secure a new job.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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