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 to close a factory in Romania and restructure activities in Germany and US-based sites. Overall 3,500 jobs will be cut.
The factory in Cluj (Romania) will close by the end of 2011, resulting in the loss of 2,200 jobs. Nokia will also cut another 1,300 jobs at logistics and sales division, based in Bonn (Germany) and Malvern (Pennsylvania, United States). The Cluj factory assembles low-end phones. Nokia will shift the production of these units to Asia. The closure of the factory is remarkable, as Nokia opened the plant in 2008.
The announcement of the loss of 3,500 jobs comes on top of earlier restructurings at Nokia. Moreover, the company intends to review its production at factories in Finland (Salo), Hungary (Komarom) and Mexico (Reynosa). Results of these restructurings will be announced in the first quarter of 2012.
Eurofound (2011), Nokia, Internal restructuring in World, factsheet number 72411, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72411.