Finnish Technology Wage Deal Struck, Averting Strike at Nokia
Stock Chart for Nokia OYJ (NOK1V)
Finland’s technology industry supervisors and managerial staff struck a wage deal, ending a strike that was due to spread to more companies, including Nokia Oyj. (NOK1V)
About 10,000 salaried workers will return to work by tomorrow, the Federation of Professional and Managerial Staff, or YTN said on its website. The deal includes pay increases of 1.6 percent and 1.3 percent over two years, and has provisions for added pay the companies can decide on, the employer organization the Federation of Finnish Technology Industries said on its website.
Companies affected by the one-week strike included ABB Ltd. (ABBN), Boliden AB (BOL), Kone Oyj (KNEBV), Konecranes Oyj (KCR1V), Metso Oyj (MEO1V), Outotec Oyj (OTE1V), Rautaruukki Oyj (RTRKS), Sandvik AB (SAND) and Waertsilae Oyj.
The deal means the strike won’t expand to 25,000 workers, including Finnish staff at Nokia Oyj, Nokia Siemens Networks and Siemens AG. (SIE) Metal industry workers struck a wage deal on Oct. 25 after a four-day strike.
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