Банкеръ Weekly



The salaries paid by the Bulgarian Telecommunication Company (BTC) will be calculated through a new system that is to be introduced at the beginning of next year, the Human Resources Director Evgeniya Georgieva announced on Tuesday. The condition is stipulated by the Collective Labour Agreement signed by representatives of the five BTC trade-unions and the Executive Director of the company, William Aylward, on the same day. According to the agreement, the salaries of employees will be bound to the amount and quality of their work.Viva Ventures, BTC's new majority owner, is not planning to reduce the personnel at least by the end of the current year, Mrs. Georgieva added. However, between 3,000 and 4,000 people will leave the company voluntarily. Those of them who have more than 10 years of experience will be compensated with 6 to 16 gross working salaries. According to Mrs. Georgieva, there will be 20,500 people working in BTC by 2006.The signing of the Collective Labour Agreement is the first significant joint achievement of employers and trade-unions and an important step towards making the company one of the best in Europe, William Aylward said. The agreement becomes valid on August 1, 2004 and will be operating by the end of 2005, when the process for restructuring the company will be over, he added.

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