Most of the employees of Telekom Romania, the local subsidiary of Deutsche Telekom, will continue to work from home in the next period, the company's CEO Miroslav Majoros said in a press conference.
He explained that the company's offices are not large enough to ensure adequate social distancing for all the employees. The company's employees will gradually return to the office as the COVID-19 infection rate will decline in Romania.
Majoros also said that the company wouldn't cut the wages of its employees.
"There will be no salary cuts in the next period. The first-quarter results are good, and the short-term forecasts don't justify such a measure," the Telekom Romania CEO said, according to Profit.ro.
The group had 4,923 employees at the end of March 2020, down by 17% compared to March 2019.
According to Deutsche Telekom data, the Telekom Romania group recorded total revenues of EUR 237 mln in the first quarter of this year, up 9.2% compared to the same period of 2019. The operational profit (EBITDA) went up by 17% to EUR 41 mln.
"Despite the current challenging economic situation, we have achieved a good result for the first quarter of 2020, with an increase in revenues and EBITDA. We are continuing on the growth path we have initiated and are seeing the results of our continuous transformation of the company. With the first impacts of the COVID-19 crisis visible and further impacts on our revenues expected, we will intensify our efforts to cut our expenditures, to meet our targets on EBITDA and FCF for 2020," said Nicolas Mahler, Chief Financial Officer, Telekom Romania.
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