Nokia agrees to pay fines to close plant in Germany

Mobile phone maker Nokia has said that they have now settled the differences with the worker representatives to close a plant in Germany.

The company said that they have agreed on a $314 million plan. The plant closure is expected to result in loss of 2,300 jobs.

Nokia added that they would establish a “transfer company” to help affected staff for one year.

Nokia executive vice president Veli Sundback added in a statement: “As we have clear responsibilities to our employees in this kind of difficult situation, it was our special concern from the start to compensate the loss of the jobs in a respectful and fair manner.”

Nokia Chief Executive Olli-Pekka Kallasvuo also issued his apologies for this action but said that it was essential to close the plant as it was costing them way too much.

Popularity: 3%