Telekom Austria aims to save around 90 mln eur in 2015
VIENNA, March 31 (Reuters) - Telekom Austria aims to save around 90 million euros ($97 million) this year in a cost-cutting drive, the America Movil unit said in its 2014 annual report published on Tuesday.
"In order to continue to grow margins, management targets extensive cost-cutting activities in 2015, with the aim of achieving total gross savings of around 90 million euros," it said, citing measures to "optimise market-related costs" and improve structural efficiency.
"Restructuring costs for civil servants in Austria are expected to amount to approximately 40 million euros," it added. About 5,000 of the former state-owned company's 9,000 employees in Austria are on civil servant contracts and may be affected by a European Court of Justice decision on how their annual pay increases are calculated. ($1 = 0.9308 euros) (Reporting by Michael Shields; Editing by Shadia Nasralla)
© Thomson Reuters 2016 All rights reserved.