29.08.2012

Former Nokia employees establish 220 companies

Job cuts at Nokia present excellent hiring opportunity for international companies looking for highly skilled engineers.

Enterprising former Nokia employees have already established 220 companies, since the Finnish mobile phone giant announced 6400 redundancies over the past year. CBTec, a company based in Espoo in southern Finland, is one of the start-ups born from Nokia's restructuring process. Established by four former Nokia employees and one former sub-contractor, CBTec is producing learning environments and mobile applications, driven by the shift towards online learning.

CBTec is aiming at the world market by combining Nokia's engineering skills with Finland's good reputation in the field of education, according to Sotiris Makrygiannis who is one of the company's founders. The business already has a turnover of EUR 500,000 and employs 15 people around the world.

According to Nokia, by the end of May this year 1500 people had completed the Bridge program designed for employees who are losing their jobs. Two thirds of the people in the program have already found new jobs, mostly outside Nokia. The program is set to continue until the end of 2013.

However, with redundancies already announced at Nokia's units in Salo, Oulu and Tampere in Finland, and further job cuts expected, there will still be a significant amount of former Nokia brain power available on the labour market in the coming year. This presents an excellent hiring opportunity for international companies looking for highly skilled and experienced engineers and other experts.

Source: Hufvudstadsbladet