September 5, 2019 / 7:34 AM / 13 days ago

REFILE-BRIEF-Nokian Tyres Enters Into Employee Cooperation Negotiations

(Refiles to add link to source text)

Sept 5 (Reuters) - Nokian Tyres plc:

* NOKIAN TYRES PLC IS ENTERING INTO EMPLOYEE COOPERATION NEGOTIATIONS BASED ON WEAK DEVELOPMENT OF EUROPEAN CAR AND TIRE MARKET

* NEGOTIATIONS CONCERN APPROXIMATELY 500 PEOPLE

* NEGOTIATIONS WILL BEGIN ON SEPTEMBER 11TH, 2019, AND LAST FOR A MINIMUM OF SIX WEEKS

* ESTIMATE OF REQUIRED REDUCTION OF STAFF IS SOME 50 PEOPLE

* NEGOTIATIONS MAY RESULT IN TEMPORARY DISMISSALS OF AT MOST 90 DAYS PER YEAR

* BACKGROUND FOR THESE ACTIVITIES IS THE WEAK DEVELOPMENT OF THE CAR AND TIRE MARKET IN EUROPE Source text: bit.ly/2lTGWYP Further company coverage: (Gdynia Newsroom)

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