Nokian Tyres (Nokian), based in Nokia, Finland, is implementing several efficiency measures in their operational activities following increased costs from ongoing research and developments and employee recruitments. These include job cuts as well as structural changes in the tyre manufacturer’s Norwegian and Swedish organisations.
According to Nokian’s CEO and President Hille Korhonen, the company is also looking at temporary layoffs at their Finnish factory in Nokia and will focus on adjusting cost base through restructuring programmes. The restructuring is expected to bring about much-needed cost benefits this year and additional cost savings in later years.
Korhonen said: “As a profitable tyre manufacturer, there will be no huge savings opportunities in other parts of the company.”