Nokian is reducing staff

Nokian Tyres has announced that it is starting negotiations regarding job cuts that could affect managers working in the company's units worldwide, as well as employees involved in the production of tires for trucks, specialized and passenger vehicles at the Nokia plant (Finland).

The statement from Nokian says that the negotiations will concern approximately 1,700 permanent employees, and according to preliminary estimates, the measures taken may lead to the reduction of 80 jobs. In addition, it is planned to temporarily lay off 650 people in Nokia for a period not exceeding 90 days per employee. The process is being launched now in accordance with the legislation of the countries where Nokian is present, the company reports.

It is also noted that temporary cuts at tire production plants for passenger and commercial vehicles, as well as special equipment, may be implemented by the end of 2026, and layoffs are planned for the end of 2025. As of the end of this year, Nokian had around 4,400 employees, of which 2,045 were in Finland.

Nokian also summed up the results of the third quarter of 2025 and reported that sales volumes increased from 313.6 million euros a year earlier to 344.1 million euros, and revenue growth in North America exceeded the market average. Operating profit increased from 30.4 to 32.4 million euros, which was facilitated by the increase in prices for passenger car tires. Earnings per share were 0.04 euros, while last year there was a loss of 0.03 euros.

In January-September 2025, Nokian's revenue was 957.3 million euros (874.8 million euros in the same period last year), and the company was able to surpass the market average rates in North America and Central Europe. At the same time, the loss per share increased from 0.21 to 0.23 euros.

Nokian has not changed its forecast for the year, and the company expects an increase in net sales and operating profitability. However, Nokian notes that "the situation in the global economy, as well as geopolitical, trade, and tariff uncertainties, may lead to instability in the business environment".

"We continue to work in many areas to improve our financial performance and operational efficiency, strengthening Nokian Tyres' long-term competitiveness," said Paolo Pompei, President and CEO of Nokian, adding that the company's updated goals will be announced in February 2026.

Pompei also emphasized that the increase in production volumes at the plant in Romania is proceeding according to schedule. "At the moment, the enterprise is working around the clock, and this year about a million tires have been produced," he noted. "The production of the new Nokian Tyres Powerproof 2 UHP summer tire, specially designed for the markets of Central and Southern Europe, has been launched."