OTE and the trade union OME-OTE agreed on a three-year collective labour agreement after many months of negotiations. With the agreement the employment of regular staff at the company is secured, whereas the management is committed to not enforce part-time employment or lay-offs on technical-economic grounds for the entire duration of the agreement. Salaries will be reduced by 12 percent in 2012, by 11 percent in 2013 and by 10 percent in 2014 compared to the compensation levels of 2011. The working week will have 35 hours until 2014 and will increase to 40 working hours by 1 January 2015.
