Nokia Seeks Employee Voluntary Resignation

Nokia Seeks Employee Voluntary Resignation

Nokia has finally decided to seek for voluntary resignation from its employees in an effort to keep its business afloat during the financial crunch. The mobile company has offered quite a handsome severance package to the first 1,000 employees who volunteer to leave. Nokia's decision aims to prevent irremissible layoffs.


Nokia is currently venturing on projects that would ensure its survival in an extremely weak economy. Its initiative to ask for voluntary resignation is part of some plans to boost cost-efficiency and accustom itself to a heavily challenging business atmosphere.



The mobile phone maker is making cutbacks on its annual cost and plans to trim down over €700 million euros (£615.2 million) on major handset devices. It also encourages its employees to take unpaid leaves and sabbaticals this year