Nokia To Accept 1,000 Resignations

Nokia Corp., which announced earlier in February that is planned to cut jobs, will seek up to 1,000 voluntary resignations to help battle costs in the face of the global economic downturn. The company, which is the world’s largest maker of mobile phones, said it will open a worldwide voluntary resignation package on March 1 and will increase short-term paid leaves and sabbaticals.

The company also requested that employees accept holiday time as pay in lieu of cash.

“We have considered these and are now announcing voluntary initiatives that could contribute to our efforts to adjust our cost base to the current market environment,” said Hallstein Moerk, head of the Nokia’s human resources. “If successful, the voluntary initiatives will lessen the need for involuntary redundancies.”
Nokia will accept applications for the resignation package until May 31, or when 1,000 employees have applied.

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