Continuing headcount reduction

( Oct 17, 2008 ) T-Hrvatski Telekom, Croatia’s leading telecommunications provider, announces that as part of its continuing cost reduction program, the Group will reduce its headcount by 216 staff, following an agreement with the Workers’ Council. The average severance pay cost per employee included in the Surplus Management Program is approx. HRK 320.000 gross for which provision has already been booked in 2007 financial year.

 

Contact

About T-Hrvatski Telekom

T-Hrvatski Telekom is the leading provider of telecommunication services in Croatia. Through its two business units, T-Com and T-Mobile, the Group is providing more than 1.5 million fixed lines, 2.5 subscriber lines in mobile communications and more than 403,000 broadband lines.

Deutsche Telekom AG holds 51% of T-HT shares, while the Government of the Republic of Croatia holds 3,6% of shares. As from the Initial Public Offering in October 2007, T-HT shares are listed on the Zagreb Stock Exchange, while global depositary receipts are traded on the London Stock Exchange.