Britain’s Price Waterhouse (PWH) has won the tender for restructuring wages of Telecom Egypt, the country’s state-run telecommunications operator. The project is expected to run for six months. Telecom Egypt employs some 53,000 workers.
Emad al-Azhari, Vice-President of Telecom Egypt told Amwal al-Borsa newspaper that the British company had successfully restructured the wages of other companies in the region such as in Saudi Arabia with STC and Mobily.
Azhari said the British company was chosen from six other companies that had applied for the tender. The British company’s overall gross revenue for 2010 was $26.6 billion, according to their website.
He added that the restructuring comes on the demand from the company’s workers, who have asked for the application of a minimum and a maximum wage within the company’s structure.
The telecommunications worker’s syndicate in Egypt has requested the minimum wage at the company should not be below 1200 EGP (about $200) a month. They also requested putting a limit on the boards’ bonuses and rewards.