The decrease of expenses with the management team was caused by the managers not receiving the performance bonus on failing to meet the tasks undertaken in 2010, company representantives told MEDIAFAX.
Romtelecom’s overall staff expenses decreased 13.8%, to RON710.2 million in 2011. The company had an average number of 8,130 employees in 2011, from 9,385 a year before.
In 2011, the company’s revenues decreased 8.2%, to RON2.89 billion.
Romtelecom is the largest local landline operator, majority owned by Greek group OTE, with 54.01% and the Communications Ministry, with 45.99%.
The company’s main competitors are RCS&RDS and UPC Romania. (EUR1=RON4.5809)