Nokia offers severance package to 1,000 employees

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Mobile phone manufacturer Nokia is offering a “Voluntary Resignation Package” and other voluntary measures aimed at cutting personnel costs and getting the company aligned with the "challenging market environment".
      The resignation package, which is to be applied to Nokia employees in all countries where Nokia operates, is on offer to up to 1,000 people from early March to late May.
      In addition to the severance package, other planned ways to reduce personnel costs include the wider use of unpaid leave and sabbaticals, and an encouragement to exchange holiday pay for more holiday time.
     
Nokia says that the ideas for voluntary measures came from the staff and its representatives.
      “We have considered these and are now announcing voluntary initiatives that could contribute to our efforts to adjust our cost base to the current market environment. If successful, the voluntary initiatives will lessen the need for involuntary redundancies", says Hallstein Moerk, Nokia’s Head of Human Resources, in a press release issued on Tuesday.
      The worldwide voluntary resignation offer is available to all employees, with the exception of factory workers and management.


Previously in HS International Edition:
  Economic crisis casts a long shadow on Nokia fourth-quarter result (23.1.2009)
  Nokia cutting back further in Finland (12.2.2009)

Links:
  Nokia continues to increase cost-efficiency and adapt operations to market situation February 24, 2009

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