Nokia implements “Voluntary Resignation Package”

Nokia recently closed a R&D plant and cut 320 jobs, now they are continuing to look for ways to reduce costs and have announced a global “Voluntary Resignation Package”. In addition, have asked employees to use “short-term unpaid leaves and sabbaticals” and asked employees to take “holiday as time off instead of taking cash compensation in 2009”.

Hallstein Moerk, Nokia’s Head of Human Resources said “The response from employees and employee representatives in proposing ideas to help reduce personnel-related costs has been encouraging. 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. If successful, the voluntary initiatives will lessen the need for involuntary redundancies”.