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, a Finnish communications corporation, has announced redundancies of up to 1,000 employees from its assembly plant in Salo, Finland. Job cuts will be completed by the end of 2012 and the company is promising support packages for dismissed workers. The company is about to start mandatory negotiations with employee representatives.
Nokia is transferring some of its phone production closer to component makers in Asia. There is no information where production will be moved as of yet. The company has Asian production facilities in China, India, South Korea and Vietnam (under construction). The factory in Salo will focus on smart phone production with a reduced workforce.
This is the third set of redundancies by Nokia within a year (see FS 17989 and FS 16661). Previous cuts in Finland have concentrated on product development. This time Nokia is also planning redundancies in Hungary and Mexico.
Updated, 22-03-2012: Nokia has concluded negotiations and confirmed the previously announced 1,000 cuts. The company reports that cuts will be phased and most of them will be implemented by the end of June 2012.
As reported, Finland has applied for assistance from the European Globalisation Adjustment Fund (EGF).
Eurofound (2012), Nokia, Offshoring/Delocalisation in Finland, factsheet number 73057, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73057.
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