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.
Finnish telecommunications giant Nokia has announced plans to reduce its workforce in Finland by 500 persons.
Nokia's cuts pertain to the development of Symbian operating system used in smart phones and its Services section. In Finland, mandatory negotiations with the employees are starting. At the end of 2009, Nokia reported a staff of about 21,500 in Finland. Several locations in Finland are affected. One employee representative described the news as shocking and puzzling as 10-20% of developers may be affected.
Worldwide cuts are expected to total 1800 persons. Nokia will conduct applicable negotiations in each country.
Updated, 15-12-2010: Nokia has concluded negotiations with employee representatives and now estmates job losses to be max. 800 persons. This is down from previously estimated 850. More detailed plans will be made in January 2011. Some workers may find other employment within the company. Nokia also plans to offer support packages varying from 5 to 15 months depending on length of service.
Updated 21-01-2011: Nokia has clarified the number of dismissals and now reports 500 redundancies, instead the original 850. According to Nokia the number may be reduced further, as some may find other positions within the company. Regionally, the cuts are: Tampere (200), capital region (Helsinki, Espoo; 120), Oulu (100), Salo (80).
Eurofound (2010), Nokia, Internal restructuring in Finland, factsheet number 71039, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/71039.
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