OTE, the largest Greek telecommunications firm has signed a new three-year contract which will establish an improved payroll for its new employees, raising the introductory wage to 755 euros, much higher than the country’s average minimum wage. Under the new contract, the firm will secure 7,000 jobs until 2017.
As for the regular employees, the contract ensures that the company will not lay-off any staff members until 2014 for economic reasons. Furthermore, it will maintain the 11% weighted average reduction that was established in its previous contract and the reduced 35-hour working week.
Furthermore, it was agreed that the majority of the group’s subsidiary firm, OTEplus, will join the parent company with new salaries and bonuses to boost their income. Around 2,100 workers will be added to the parent company’s staff, reaching a total of approximately 9,100 employees.
Workers employed in customer service call centers at OTEplus, according to OTE, will be transferred to another subsidiary of the group and their employment contracts will become indefinite. Finally, it was agreed to rationalize a series of benefits and benefits in the context of transformation and strengthening competitiveness of the company.
“We signed a groundbreaking deal with OTE’s employees,” noted OTE’s president and CEO, Michael Tsamaz.
During the OTE shareholders general meeting on Tuesday, the board approved Tsamaz’s contract extension for 3.5 more years. Meanwhile, the group will submit a binding offer for the acquisition of Forthnet’s subsidiary, Nova, probably in early 2015.
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