Dear Brothers and Sisters,
The Bargaining Team met with the Company again today. Phil Stewart, Senior Director of HR and Benefits, met with us to provide a thorough explanation of the numbers behind the Section 420 transfer of excess pension assets to fund Retiree healthcare. Phil has worked with the Joint Retiree Healthcare Committee since 2004 and brings with him a wealth of knowledge.
In addition, the Company provided us with some information on Nokia’s Q3 Financial Results. The full report is available on the Nokia.com website under Investor Relations. The Company wanted to make it clear from the data provided that Nokia, as a whole, is operating at a loss. The transcript of the earnings call with Rajeev, however, was more upbeat. The Union pointed out in that same presentation that the net sales for Nokia’s Networks business in the North American Market comprised 31% of total sales. The remaining five markets made up the rest. The Union also mentioned that, when asked in an interview about 5G deployment, Rajeev Suri stated that the deployment in the United States is ahead of schedule and is expected to be heavy in 2019.
The Q3 Financial Results was a good segue way into the data request passed by the Union today. We are requesting copies of the audited financial statements, balance sheets, etc., so that we can more fully understand the need for the elimination of the bargaining unit to achieve profitability. We are scheduled to meet tomorrow.
We believe that the CEO of Nokia, Nokia’s Bargaining Chair, Nokia’s Customers and your Legislators need to know that eliminating good Union jobs and putting Retiree’s benefits at risk is BAD BUSINESS.
Continue using this link to send an online letter to Nokia CEO Rajeev Suri and Nokia Bargaining Chair Steve Muscat, telling them to save American jobs and bargain in good faith! If you would like to write a letter and send it via USPS their addresses are:
Steve Muscat / Senior Director Americas HR-Labor Relations / Nokia of America Corporation / 600 Mountain Avenue, Room 6C-419 / Murray Hill, NJ 07974
Rajeev Suri / President and Chief Executive Officer / Nokia / Karaporti 3 / Espoo, Finland 02610
One Day Longer, One Day Stronger! An Injury To One, Is An Injury To All! United We Stand!
Your Bargaining Team,
Mary Jo Reilly