Nokia pays Rs 250 cr VRS to employees

Finland-based Nokia has paid about Rs 250 crore as compensation to employees of its Chennai manufacturing facility, who opted for the voluntary retirement scheme offered by it in May, Tamil Nadu Industries Minister P Thangamani informed the state Assembly on Friday.

“Soon after the Chennai plant was converted into contract manufacturing facility, as it was excluded from the Nokia-Microsoft $7.2 billion deal, the operations of the Chennai plant will be based on the supply orders. Because of this reason, the company (Nokia) offered VRS,” he said.

Replying to a call attention motion brought by CPI (M) member A Soundararajan, Thangamani said about 5,600 employees accepted the scheme and were entitled to get between Rs four lakh to Rs 10 lakh as compensation.

“Nokia has informed that it has given Rs 250 crore as compensation for those who accepted the scheme”, he said.