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

Nokian Tyres is the world’s northernmost tire manufacturer and one of the most sustainable companies in the industry. We offer peace of mind in all conditions by developing high-quality, safe and eco-friendly tires for passenger cars, trucks and heavy machinery. We are especially well known for our innovative winter tires. Our group also includes the Vianor chain, specializing in vehicle maintenance and tire services. In 2018, the company’s turnover was approximately EUR 1.6 billion and it employed some 4,800 people. Nokian Tyres is listed on Nasdaq Helsinki. Further information: www.nokiantyres.com  

About Us

Nokian Tyres develops and manufactures premium tires for people who value safety and sustainability. Inspired by our Scandinavian heritage, we craft innovative products for passenger cars, trucks and heavy machinery that give you peace of mind in all driving conditions. Our Vianor chain provides tire and car services. In 2020, the company’s net sales were EUR 1.3 billion and it employed some 4,600 people. Nokian Tyres is listed on Nasdaq Helsinki. Further information: www.nokiantyres.com

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