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Tuesday 08 April, 2008

NOKIA

Nokia, Bochum employee representatives agreed o...

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Corporate news announcement processed and transmitted by Hugin ASA.
The issuer is solely responsible for the content of this 
announcement. 
----------------------------------------------------------------------
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Espoo, Finland - Nokia and Bochum employee representatives have
agreed on key elements of a reconciliation of interests and social
plan for employees affected by the plan to close the site, achieving
the target set for the negotiation by both parties: a fair,
reasonable and satisfactory solution for all. The 200-million-euro
package calls for Bochum to be shut down by June 30, after which
Nokia will establish a transfer company for affected staff for one
year.

"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 Sundbäck, 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."

"We achieved our goal, which was to reach a satisfactory agreement
for our members that is in line with the best German agreements,"
said Gisela Achenbach, head of the Bochum works council.
"Furthermore, additional payments will take into account the specific
situation of families and severely disabled persons."

Both parties have also reached agreement on terms related to employee
issues in the cases of the planned divestment of the Line Fit
Automotive Business to the former business unit head, Razvan Olosu,
and Equity Partners GmbH; and of the Bochum based core software R&D
entity to Sasken Communication Technologies. Successful divestments
would enable employment for approximately 300 staff in total, an
important step towards the joint aim of finding alternative
employment for Nokia's Bochum staff.

While production at Bochum will cease by end-June 2008, Nokia will
continue to have a strong presence in North Rhine-Westphalia and
Germany with a major sales and marketing unit in Düsseldorf and a
strong representation through a devices R&D team in Ulm. Nokia is the
only major mobile device maker with an R&D presence in Germany, and
its footprint in software is growing with the acquisitions of Gate5
and Loudeye and the pending purchase of Navteq, which has personnel
in Frankfurt.

The final reconciliation of interests and social plan are expected to
be signed in the next few weeks.

Nokia will comment further on the financial costs in connection with
its first quarter report due on April 17.

About Nokia
Nokia is the world leader in mobility, driving the transformation and
growth of the converging Internet and communications industries. We
make a wide range of mobile devices with services and software that
enable people to experience music, navigation, video, television,
imaging, games, business mobility and more. Developing and growing
our offering of consumer Internet services, as well as our enterprise
solutions and software, is a key area of focus. We also provide
equipment, solutions and services for communications networks through
Nokia Siemens Networks.

Media Enquiries:

Nokia
Communications
Tel. +358 7180 34900
E-mail: press.services@nokia.com

www.nokia.com


 
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NOKIA
P.O. Box 226<br>FIN-00045 NOKIA GROUP   Espoo 

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