Nokian Negotiations End With Six-Month Layoff

The statutory negotiations at Nokian Heavy Tyres ended on the 19th of December, 2008 with the decision to lay off the employees for approximately six months. The reason for the lay-offs is the decreased heavy tyre demand caused by the financial crisis, which has created the need to reduce production in line with the lower demand.

The decision concerns some 280 employees and all personnel groups at Nokian Heavy Tyres. Depending on the job, the lay-offs will last from 10 to 100 days, which corresponds to the lay-off of around 90 employees for six months. The majority of lay-offs will be carried out from January to June 2009. Part of the adjustment needs will be executed by pension arrangements. The walkout of Nokian Heavy Tyres production personnel which started on Thursday, December 18, 2008 ended on December 19, 2008 at 10.30 a.m.