Nokia Settles With German Workers; Each To Receive $129,090 In Severance

Nokia (NYSE: NOK) has agreed to pay workers 200 million euros ($315 million)–130 million euros ($205 million) more than it originally offered–in compensation for the closure of its factory in Bochum, Germany. The 2,300 staff will split 185 million euros ($292 million), with each worker receiving an average of 80,000 euros ($129,090) in severance pay, the FT reports. The remaining 15 million euros ($24 million) will be spent on a transfer company to help the workers find new jobs. The Bochum closure, announced in January, prompted a wave of criticism in Germany from both trade unions and politicians. Finance minister Peer Steinbrück called Nokia

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