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Nokian Tyres plc Is Entering Into Employee Cooperation Negotiations

Nokian Tyres plc is entering into employee cooperation negotiations on planned temporary lay-offs affecting Nokian Tyres plc personnel based in Finland. The background for these activities is the decrease in the demand in the European car and tyre market, which is due to the COVID-19 outbreak. According to our assessment, the mobility limitations caused by the COVID-19 situation also affect the amount of work in certain functions.

The employee cooperation negotiations concern all personnel based in Finland at Nokian Tyres plc, Nokian Heavy Tyres ltd, Vianor Holding Oy and Vianor Oy. The employee cooperation negotiations have already been concluded in Levypyörä Oy and NT Tyre Machinery Oy.

The negotiations concern approximately 1,630 people. The plan is to achieve the necessary level of adjustment by using temporary lay-offs of at most 90 days per employee. The exact number of people being temporarily laid off, and the duration and form of the temporary lay-offs will be determined during the course of the negotiations.

The negotiations will begin on March 18, 2020, and last for two weeks, unless agreed otherwise in said negotiations.