Nokia and employee representatives sign social plan agreement on closure of the Bochum site

Closure by June 30, 2008

Nokia GmbH and the company’s works council have signed the social plan agreement on the closure of the Nokia Bochum site on April 23, following their agreement on the key elements of the plan on April 8.

The affected employees will be informed about the details of the social plan agreement by Nokia and the works council in a town hall meeting today.

The total amount of the social plan is 200 million euros – including severance payments and the establishment of a transfer company. Employees affected by the closure have the opportunity to move to the transfer and qualification company for 12 months, facilitating their search for new employment.

Thus, the aim to reach a fair and reasonable solution for all affected employees has been achieved.In the course of the signing, the Nokia GmbH Supervisory Board also agreed on the closure of the Bochum site. The site will be closed by June 30, 2008 as planned.