Nokia has agreed to pay $314 million to compensate employees at a factory in Germany that is recently announced it would close down. The factory's shutdown was met with political outcry in the country and a subsequent flurry of media attention. Negotiators said the final figure is much higher than the $110 million that Nokia originally suggested. Each worker in the 2,300 employee base will receive an average of $126,000. Nokia announced the plant's closing in January, which sparked local trade unions to threaten to call for a boycott on Nokia phones. A prominent German politician accused the handset maker of "caravan capitalism" because it was opening a plant at a lower-cost location in Romania.
For more on the Germany Nokia plant spat:
- read this article from Financial Times