Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Nokia is starting personnel negotiations at its factory in Salo, possibly leading to job cuts of up to 285 members of its staff. Nokia says that it plans to offer special severance packages for those who wish to leave voluntarily, and it will try to find new tasks for as many of its people as possible. The company also says that its present temporary layoffs in Salo will conclude by the end of June 2010.
The reason for the new job cuts is that Nokia wants to find a new operating model for its mobile telephone production in Salo, which will lead to faster and more efficient production in the manufacture of smart phones. Juha Putkiranta, Nokia's Senior Vice President of Markets says that the aim of the move is "to ensure the plant's future competitiveness and its special role as one best suited to the production of high value mobile devices".
The Salo plant currently has about 2,200 people working in production, which means that more than ten per cent of the factory's workers could go.
UPDATE, 24/3/2010: After negotiations, the final number of job losses was reduced to 268.
Eurofound (2010), Nokia, Internal restructuring in Finland, factsheet number 70266, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/70266.
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