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.
Telecommunications company Nokia is reducing staff in Finland. Nokia has announced plans for efficiency increase, which include staff reductions of up to 350 in Finland. The reductions will affect all sites in Finland, excluding the factory site in Oulu.
According to Nokia, the staff reductions are a result of the now completed incorporation of Alcatel-Lucent into the company’s structure. Nokia bought the company in November 2016 and has since been working with the merger. Since the process is complete, Nokia is now looking to streamline company structures and increase efficiency within the organisation. The announced staff reductions are expected to save up to €700 million until the end of 2020.
Nokia has reduced staff in Finland several times during the past years. In January 2018, Nokia announced staff reductions of 80, followed by further reductions of 353 in April 2018. In addition to the announced reductions in Finland, Nokia has also announced that it will reduce staff in Germany and France.
Updated, 07/03/2019Employer-employee negotiations were concluded in early March 2019. The total number of dismissals in Nokia landed at 280.
Eurofound (2019), Nokia, Internal restructuring in Finland, factsheet number 96354, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96354.