Romtelecom’s headcount goes down to 7,421

As of September 30, 2011, total headcount at Romtelecom and subsidiaries was 7,421, down from 9,192 one year earlier, according to the financial report of Greek group OTE.

 “Romtelecom pursued its downsizing and migration to a more flexible, cost-effective operating model. As a result, operating expenses (excluding D&A and one-off costs) were down 11 percent in Q3 2011, notwithstanding higher customer acquisition related costs, such as TV content. Payroll and benefits were down 23 percent, due to the improvements in operating efficiency and voluntary leave programs,” says the report.

Romtelecom saw an 11.8 percent decline in its revenues down to EUR 160.1 million in the third quarter of the financial year 2011, ended September 30.

 However, the evolution of the revenues of the operator from Q2 to Q3 shows only a 3.6 percent decline.

 The company’s EBITDA also decreased by 5.6 percent, going down to EUR 36.9 million.

Read more about

Flash Lighting Services: For the year 2023, we report a revenue increase of over 42%

read more

 “This drop in the revenues was partially generated by a modification of accounting policies for recognizing anticipated revenues and a change in commercial policies,” according to Anastasios Tzoulas, CFO at Romtelecom.  

 Romtelecom lost revenues in the landline segment, as the number of landlines dropped by 4.5 percent at the end of September compared to the same period in 2010, to a total number of 2.52 million.  

 On the other hand the operator gained on the internet and TV segment. The number of broadband subscribers went up by 16.8 percent up to 1.1 million. Also, on the TV segment, the number of subscribers increased by 20.4 percent up to 1.2 million users.

 The number of revenue generating units (voice, internet and TV subscriptions) decreased by 5.3 percent compared to the similar period in 2010, reaching nearly 4.9 million.

“During the quarter, Romtelecom introduced a significant product portfolio redesign aimed at providing bundles that are simpler and more easily comparable with those of other operators, at leveraging upsell, and at combating the lingering perception that Romtelecom is a voice-only provider,” says the OTE report.

In picture: Stefanos Theocharopoulos, general manager of Romtelecom

Otilia Haraga