Negotiations at Nokian Concluded

Negotiations at Nokian Concluded
The statutory negotiations between Nokian Tyres and labour union leaders regarding possible lay-offs ended in a mutual agreement the day after they began.

Both parties agreed that a maximum of 700 staff in the car tyre production segment of the business would be gradually laid off during this year

The first lay-off week (from a total of four) will be between Christmas and the New Year. Assuming the need for further lay-offs still exists, the remaining weeks will be in spring 2006.

Nokian Tyres says that the aim of the lay-offs is to adjust car tyre production to meet the current inventory and tyre demand.