Statutory Negotiations at Nokian Concluded

Statutory negotiations at Nokian Heavy Tyres were concluded on December 19 with the company taking the decision to lay off a number of employees for approximately six months. Nokian cites the decreased demand for heavy tyres demand caused by the financial crisis and a subsequent reduction in production, as the reason behind the lay-offs.

The decision, reported Nokian on December 19, concerns approximately 280 employees and all personnel groups at Nokian Heavy Tyres. The lay-offs will be for a timeframe between ten and a hundred days, depending on an employee’s job within the company. Nokian says this corresponds to the laying-off of approximately 90 employees for six months. The majority of lay-offs will take place between January 7 and June 18, 2009.

Nokian has further commented that walkout of production personnel which started on Thursday, December 18 ended on December 19 at 10.30 a.m.