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The End of the Bochum Affair

April 8, 2008 in Wireless Industry News

In a final act to close out the whole Bochum plant fiasco, Nokia annonuced that it will be paying a total of 200 million euro large ($314 million USD).

The Bochum, Germany plant will still close as expected on June 30, taking out about 2,300 jobs, but Nokia will set up a transfer company to help find alternative employment for workers affected by the closure.

The government previously demanded that Nokia return subsidies totaling $91 million USD, claiming that the company did not meet the requirements for the payments.

“As we said in January when we started the discussions about closing Bochum, Nokia has agreed on a fair and responsible social plan,” said Veli Sundb├Ąck, Executive Vice President of Nokia and Chairman of the Supervisory Board of Nokia GmbH. “We are well aware that closing the site is painful for all affected employees and their families. 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.”

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