Telecom Egypt reintroduces voluntary early retirement scheme to cut costs

Telecom Egypt has reintroduced its voluntary early retirement program, and is targeting enrolling 2,000 of its employees this year, the company said in a bourse disclosure (pdf). Eligible employees who apply for the program can receive one-off and monthly cash payments, as well as three-year medical insurance plans for themselves and their families. The move is part of the state-owned landline monopoly’s plans to cut costs.