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Nokia needs to cut more costs, implements Voluntary Resignation Package

Updated Dec 19th, 2018 6:15PM EST

The heat is on and Nokia appears to be feeling the burn as much as the next company as it has just announced a new round of cost-cutting measures that will go into effect next week. The Finnish handset manufacturer turned Internet Company revealed today that it will be introducing a new Voluntary Resignation Package that invites employees to voluntarily and amicably part ways with the company. This of course is in addition to the recent news of massive temporary layoffs at its production plant in Salo. A sound word byte from Hallstein Moerk, Nokia’s Head of Human Resources:

The response from employees and employee representatives in proposing ideas to help reduce personnel-related costs has been encouraging. We have considered these and are now announcing voluntary initiatives that could contribute to our efforts to adjust our cost base to the current market environment. If successful, the voluntary initiatives will lessen the need for involuntary redundancies.

Nokia will put the package into effect beginning March 1st and it will remain on the table until 1,000 employees have taken Nokia up on its offer. In addition, Nokia is encouraging its staff to request unpaid leave of up to one month and will happily grant such requests provided “business continuity is not jeopardized”. Sad news indeed, but we’re certainly hoping enough people can take advantage of the VRP and land gigs elsewhere so that Nokia doesn’t have to resort to any more “involuntary redundancies”.


Zach Epstein
Zach Epstein Executive Editor

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.

His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.