Hellenic Telecom Planning Voluntary Redundancies, Imerisia Says

Hellenic Telecommunications Organization SA (HTO), Greece’s largest phone company, is planning to reduce its staff by about 2,000 people in a voluntary redundancy program, Imerisia reported, without saying how it got the information.

Most of the reductions will be from staff nearing retirement, and the program will reduce the company’s operating costs by about 150 million euros ($197 million) over the next three years, the Athens-based newspaper said.

To contact the reporter on this story: Marcus Bensasson in Athens at mbensasson@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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