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.
Ulm (Germany), Burby (Cada), Salo (Finland) and other locations
Sector
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26.30 - Manufacture of communication equipment
10,000 jobs Number of planned job losses
Announcement Date
14 June 2012
Employment effect (start)
15 June 2012
Foreseen end date
31 December 2013
Description
Finnish telecommunications corporation Nokia will cut 10,000 jobs globally. Nokia had announced in April 2012 to cut 4,000 jobs worldwide (see here), but the newly announced job losses come on top of previous announcements of redundancies.
The Finnish phone maker expects to finalize the restructuring by the end of 2013.
Among other measures, Nokia will close its plants in Ulm (Germany, see factsheet), Burnaby (Canada) and its manufacturing facility in Salo (Finland).
Sources
14 June 2012: Financial Times
14 June 2012: Nokia
Citation
Eurofound (2012), Nokia, Internal restructuring in World, factsheet number 73760, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73760.
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