Nokia to pay $314 million to make the closure of the Bochum plant less painful
By Stefan Constantinescu on Tuesday, April 8th, 2008 at 9:14 AM PST In Nokia
Nokia is planning to close their plant in Bochum on June 30 of this year. The reason? Cost of labor is too high. The solution? Move to Romania. This upset the Germans greatly (queue videos of man breaking phones with a hammer) to the point that people in goverment positions demanded Nokia (NYSE: NOK) pay back the subsidies given by the state. Nokia has decided to give the workers of the plant 200 million EUR (314 million USD) to make the closure less painful. To that I say about time, let go of it already.
[Via: Herald Tribune]
