Nokia Layoffs Have Big Impact On Small Finland Towns

Posted on Apr 9 2012 - 7:21am by Editorial Staff

The Finnish mobile giant Nokia which has been laid off 1000 of its employees from its Finland plant, which is around one-third of total 3,500 workforces there, sees a further turnaround for small towns in the country as its impact. Nokia in 2010 accounted for 95 percent of the €60 million ($78.85 million) in corporate tax income the town received, but this year Salo’s mayor expects the number to drop as low as €14 million ($18.3 million).

Salo has also seen a large percentage of its population become unemployed due to the downsizing. In 2010, 5,000 of the town’s 55,000 residents worked at Nokia — by the end of 2012 that number will be just 2,500. “Nokia has been a status symbol for us,” mayor Antti Rantakokko said. “But more than that it has been a major source of income.”

(Image Source: Nokia logo, Featured Image)

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.