Nokian Tyres temporarily lays off 350 employees due to strike in Finland
Reuters
Published Mar 22, 2024 11:49
Updated Mar 22, 2024 12:00
COPENHAGEN (Reuters) -Finnish tire maker Nokian Tyres said on Friday it would temporarily lay off 350 employees at its car tire factory in Nokia (HE:NOKIA) for 90 days due to political strikes in the Nordic country.
Finland's industrial, logistics and electrical workers said on Wednesday they would extend an ongoing two-week strikes by one week in protest against planned government labour reforms and welfare cuts.
Nokian Tyres said in a statement inventories were filling up as the strikes, which affect ports and transportation, have meant it cannot deliver to customers.
It will lay off the employees from March 26 to April 9.
"Nokian Tyres will adapt production at the Nokia passenger car tire factory in Finland for at least two weeks," the company said. "Production of heavy tires will continue in Nokia as normal."
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.