4/14/2008 10:28:00 AM
Nokia agrees multimillion-pound employees’ pay-off
Handset giant Nokia is to pay £160m to compensate employees in a factory closure that caused a political outcry in Germany.
The agreement between the Finnish company and employee representatives at the factory in Bochum, Germany, includes £148m in compensation for 2,300 staff, and £12m for a so-called transfer company designed to find the workers new jobs.
The payout is much higher than the £56m proposed by Nokia, according to negotiators. Employees will receive on average £64,000, officials said.