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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Nokia Oyj    NOKIA   FI0009000681

NOKIA OYJ (NOKIA)
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Nokia Oyj : workers commence warning strike

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03/09/2018 | 01:52am CEST

NAN-H-28

Strike

By Chinyere Bassey

Lagos, March 8, 2018 (NAN) Workers in Nokia Solutions Networks Ltd. have commenced a three-day warning strike to protest anti-labour practices by the management of the company.

The workers said they embarked on the strike as members of the Private Telecommunications and Communications Senior Staff Association of Nigeria.

The General Secretary of the association, Mr Okonu Abdullahi, told the News Agency of Nigeria (NAN) in Lagos on Thursday that the workers would proceed on an indefinite strike at the expiration of the warning strike.

Abdullahi said the strike became necessary because the management of the company had continued to engage in anti-union activities and were disregarding industrial relations processes.

”The union has been calling for a review of the condition of service of employees which was last reviewed a decade ago.

”The management has refused to negotiate with the union. They always showed disdain and contempt for social dialogue, which would have allowed the management and the union to resolve issues facing workers.”

The unionist said that the company had resorted to systematic casualisation of workers, seeking to substitute formal workers with casual workers.

He also accused the company of promoting unwholesome labour practices in Nigeria.

Abdullahi alleged that the company had abused the expatriates’ quota policy and was regularly replacing Nigerians with foreigners on jobs that could be handled by Nigerians.

He alleged further that two years after the company acquired Alcatel Lucent, the management of Nokia had refused to give employment letters to former workers of the acquired company.

The labour leader recalled that the Nokia management had previously promised to give workers letters of appointment as soon as they were employed but that this was never done.

According to him, developments in the company have forced many workers to quit, seeking their means of livelihoods elsewhere.

When contacted, the Managing Director of the company, Mr Edet Richard, declined to utter a word on the developments in Nokia Solutions Networks Ltd. (NAN)

CHIN/SN

========

Edited by Silas Nwoha

(c) 2018 News Agency of Nigeria Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (€)
Sales 2018 22 199 M
EBIT 2018 2 127 M
Net income 2018 -59,7 M
Finance 2018 3 749 M
Yield 2018 4,11%
P/E ratio 2018 -
P/E ratio 2019 33,29
EV / Sales 2018 1,04x
EV / Sales 2019 1,01x
Capitalization 26 775 M
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 5,58 €
Spread / Average Target 18%
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Managers
NameTitle
Rajeev Suri President & Chief Executive Officer
Risto Kalevi Siilasmaa Chairman
Joerg Erlemeier Chief Operating Officer
Kristian Pullola Chief Financial Officer
Marcus Weldon Chief Technology Officer
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