Nokia's decision to close that factory
in Bochum, Germany and move its operations to a cheaper site in Romania might lower costs in the long run, but for now things seem decidedly in red: Nokia and the German unions who represented the 2,000 laid-off workers at the plant have agreed to a €200M ($314M) settlement, which will probably end the demonstrations and calls for boycotts
that have been going on. Of course, that's on top of the $92M
(plus another $6.2M
) the German government wants back in grants and tax breaks for subsidizing the plant, but what's another hundred mil between friends?
; image courtesy of Reuters]