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Provider: Reuters Investment Profile
Provider: Thomson Reuters StreetEvents
Provider: Thomson Reuters StreetEvents

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Nokian Renkaat Oyj Plans Layoffs at Nokia Plant

Tuesday, 30 Oct 2012 02:30am EDT 

Nokian Renkaat Oyj announced that it has decided to start statutory negotiations on November 5, 2012 at its Nokia plant to adjust the production to meet the market situation. With the negotiations, the Company aims to adjust the utilization of the production capacity and create cost savings. The agenda of the negotiations includes possible changes in shift system and utilization of short-time working method. The possible adjustments have been planned to be done mainly with layoffs during year 2013. The negotiations concern approximately 600 workers and staff at car tire production, maintenance and quality departments at Nokia as well as all 260 of Nokian Heavy Tyres’ employees. Possible personnel cuts will amount to a maximum of 45 persons. 

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11:29am EDT