Nokia Fleeing Out Of Germany

Nokia has recently announced that they will be moving out of Germany for good. By moving out we meant Nokia is going to lay-off a massive 2,300 employees. The company said the move was due to market changes and the need for running a more cost-effective business. As such, Nokia is moving to lower-cost European neighboring countries. Aside from the cell phone plant itself, Nokia is also selling their automotive plant as well as a software research and development entity. As of current, Nokia is still negotiating with employee representatives to reach some kind of amicable settlement.