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 mobile phone maker Nokia has announced up to 3,700 redundancies from its operations in Finland. The company has begun mandatory negotiations with employee representatives on the cuts. Cuts are to be implemented by the end of 2013.
Nokia's cuts in Finland are part of its intended worldwide cuts of 10,000 (see here). The company will now completely close its manufacturing plant in Salo, which was already targeted for cuts earlier in 2012 (see here). Nokia cites reduced sales and poor outlook as reasons for its cuts, which are just the latest in a series.
The scale of Nokia's redundancies has created a lot of public interest and activity. The government and unions have been activily involved. For example, prime minister Katainen and labour minister Ihalainen have visited the cities of Salo and Oulu.
The announcement has led to one walk-out from the Salo plant. According to employee representatives, Nokia is now offering smaller separation packages than it did earlier in spring.
UPDATE: 03-08-2012: Nokia has concluded negotiations regarding its units in Salo and Oulu. The company confirms the closure of Salo plant with 780 redundancies and reports 700 redundancies in Oulu (higher than previously estimated).
UPDATE, 28-02-2013: Nokia has concluded the final set of negotiations related to this announcement. It will lay off 210 employees from its information services and outsource another 660. The total reduction of the workforce is approx. 3000 (compared with originally announced 3700).
As reported, Finland has applied for assistance from the European Globalisation Adjustment Fund (EGF).
Eurofound (2012), Nokia, Internal restructuring in Finland, factsheet number 73759, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/73759.
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