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Thu September 5 10:00 am 2019 in category Company news

Nokian Tyres plc is entering into employee cooperation negotiations based on the weak development of the European car and tire market

Nokian Tyres plc Company Release September 5, 2019 10:00 a.m.

Nokian Tyres plc is entering into employee cooperation negotiations, with the aim of adjusting the number of personnel at the Nokia production facility to meet the currently known and anticipated demand. The background for these activities is the weak development of the car and tire market in Europe.

The employee cooperation negotiations concern production and maintenance at Nokian Tyres plc’s Nokia factory and production-related test activities. These negotiations do not concern Nokian Heavy Tyres Ltd. The negotiations concern approximately 500 people. The plan is to achieve the necessary level of adjustment by using lay-offs and temporary dismissals. The estimate of the required reduction of staff is some 50 people. In addition, the negotiations may result in temporary dismissals of at most 90 days per year. The exact number of people being temporarily dismissed and the duration of the temporary dismissals will be determined during the course of the negotiations.

The negotiations will begin on September 11th, 2019, and last for a minimum of six weeks.

Nokian Tyres plc

Päivi Antola 
SVP, Corporate Communications and Investor Relations

Further information:
Esa Eronen, SVP, Supply Chain and Sustainability, tel. +358 10 401 7281

Distribution: Nasdaq Helsinki Ltd, media, www.nokiantyres.com