Nokia announced today that they will be closing their plant in Bochum, Germany by the middle of this year and may end up cutting up to 2300 employees as a result. The company plans on moving production to existing plants – many of which are in Romania. According to Nokia board member, Veli Sundbaeck, labor costs are almost 10 times higher in Germany than in Romania. Nokia’s mobile phone production facilities are now located mostly in lower-cost countries which include Hungary, Romania, China, and India.

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Technorati Tags: Nokia, Bochum Germany, Closure