Hellenic Telecommunications Organisation (OTE) proceeded with the cutting of extra payments and benefits of both its parent and subsidiaries managers. This is considered as the first step in cutting salary costs.
President and CEO Michalis Tsamaz, decided that OTE’s executives will not receive bonuses, imposed by circumstances in Greece and the telecommunications industry. This decision has been already applicable in Cosmote for about two weeks.
By January 1st, OTE’s officials won’t be able to use corporate credit cards. Officials have been informed internally by Michalis Tsamaz, according to sources.
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