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 manufacturer Nokia has initiated employer-employee negotiations aiming to cut 200 positions in Finland. The reason for the redundancies is decreasing demand and a weak market during 2016. Three quarters of the redundancies will be carried out in Espoo, and the remaining in Tampere and Oulu. Jobs will mainly be cut within the business area Nokia Networks and within support functions. The redundancies will primarily be carried out during 2017.
The ERM has previously reported on over 1,000 redundancies in Finland in 2016 due to the merger with Alcatel-Lucent. The merger resulted in over 10,000 redundancies throughout Europe.
Nokia currently has 6,100 employees in Finland compared to 23,500 in 2005.
Updated, 09/06/2017: The concluded employee-employer negotiations ended with the estimated number of redundancies settling at approximately 170. Cuts will be carried out in all units of the company in Finland, with the exception of the Oulu factory. Nokia will offer the dismissed the possibility to participate in the 'Bridge' support programme, which seeks to either place the individuals in new positions within the company, or to help them find new work outside the company.
Eurofound (2017), Nokia, Internal restructuring in Finland, factsheet number 90958, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90958.