Company Directory - Nokia Corporation
Company Details - Nokia Corporation
Nokia Corporation
WebsiteEspoo, Finland
ISIN: FI0009005953
Nokia Corporation is a Finnish multinational telecommunications, information technology, and consumer electronics company that designs, manufactures, and sells network equipment, technology services, and consumer solutions globally.
CCI Score
CCI Score: Nokia Corporation
13.15
-0.01%
Latest Event
Nokia Releases 2023 Modern Slavery Statement with Robust Supply Chain Protections
Nokia Corporation published its extensive 2023 Modern Slavery Statement outlining comprehensive measures to combat forced and child labor in its global supply chain. The statement details strict supplier audits, ethical recruitment practices, and adherence to international human rights frameworks, emphasizing zero tolerance for modern slavery and outlining corrective actions in supplier management.
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SABOTEUR
Nokia Corporation is currently rated as a Saboteur.
Latest Events
- MAY282024
Nokia Corporation published its extensive 2023 Modern Slavery Statement outlining comprehensive measures to combat forced and child labor in its global supply chain. The statement details strict supplier audits, ethical recruitment practices, and adherence to international human rights frameworks, emphasizing zero tolerance for modern slavery and outlining corrective actions in supplier management.
+80
Labor Relations and Human Rights Practices
March 28
The statement provides detailed policies and proactive measures to ensure labor rights, including strict oversight of working conditions and supplier audit protocols. These efforts align with international standards on human rights and worker protection, demonstrating a strong commitment to ethical labor practices.
+80
Supply Chain Ethics
March 28
The document highlights rigorous supply chain transparency and due diligence, enforcing high ethical standards among suppliers. With robust monitoring systems, independent audits (including EcoVadis and JAC), and clear corrective procedures, Nokia significantly mitigates risks of forced and bonded labor throughout its supply chain.
- DEC312023
Nokia Corporation spent $900,000 on lobbying in 2023, which raises concerns about the company's use of political influence to potentially shape policies in favor of corporate interests.
-40
Political Contributions and Lobbying Efforts
March 28
Nokia's reported $900,000 lobbying expenditure in 2023 suggests significant efforts to influence policy outcomes. From an anti-fascist perspective, large-scale lobbying can undermine democratic accountability and favor corporate interests over worker rights and marginalized communities, thereby earning a negative score.
- DEC312023
Nokia released its Modern Slavery Statement for 2023, detailing its commitment to zero tolerance for forced, bonded, and child labor, along with comprehensive supplier audits, training programs, and transparent supply chain practices to mitigate modern slavery risks.
+80
Labor Relations and Human Rights Practices
March 28
Nokia's statement outlines robust human rights practices including clear policies against forced and child labor, adherence to international labor standards, and proactive worker-protection measures, thereby supporting progressive labor relations.
+75
Supply Chain Ethics
March 28
The document demonstrates proactive supply chain ethics through extensive audits, supplier assessments, third‑party validations, and corrective actions that aim to eliminate modern slavery risks across its global network, reflecting a strong commitment to ethical sourcing.
- JUL142023
Nokia Corporation announced plans to cut its Finnish workforce by 155 jobs following codetermination talks with staff representatives, with significant impacts in Espoo and other cities, as part of broader cost-cutting and restructuring measures. The company also issued a profit warning citing a weaker demand outlook.
-60
Labor Relations and Human Rights Practices
March 28
The planned redundancies, predominantly impacting workers based in Espoo along with locations in Oulu and Tampere, signal a significant negative impact on labor rights and job security. This move, as part of broader cost-cutting measures and restructuring, undermines ethical labor practices and worker protections, which is a negative marker from an anti-fascist perspective that prioritizes fair labor practices and social responsibility.
Nokia announces job losses in Finland, issues profit warning
- JUN302023
Nokia has detailed its commitment to human rights by outlining its comprehensive Human Rights Policy. The company highlights its Human Rights Due Diligence (HRDD) process—subjected to an internal audit completed in 2023—and its role on the Global Network Initiative board for 2024-2027. The initiative emphasizes fair labor practices, decent working conditions, and proactive supply chain risk management.
+80
Labor Relations and Human Rights Practices
March 28
Nokia’s robust Human Rights Due Diligence process, combined with an independent GNI assessment, shows a strong commitment to fair labor practices and protecting human rights. This proactive approach mitigates risks associated with labor abuses and aligns with progressive, anti-authoritarian values.
+70
Supply Chain Ethics
March 28
The policy explicitly addresses risks in Nokia’s supply chain, emphasizing decent working conditions and pre-emptive risk identification through its HRDD process. This reflects a commitment to ethical supply chain practices that safeguard labor rights and reduce exploitation.
- MAY032023
Nokia has begun redundancy talks in Finland that could result in up to 208 job cuts, as part of its broader savings programme announced previously. The discussions, affecting workers across most Finnish locations, underscore a shift towards cost-cutting measures that negatively impact job security.
-50
Labor Relations and Human Rights Practices
March 28
The company's decision to enter redundancy talks affecting over 200 workers undermines secure labor relations and workers' rights. From an anti-fascist perspective that prioritizes fair treatment and stability for employees, these measures reflect a troubling disregard for labor welfare as part of a broader cost-saving strategy.
Nokia starts redundancy talks affecting more than 200 workers in Finland
- JAN012023
A benchmark report by KnowTheChain rated Nokia Corp. as 13th out of 40 companies for its forced labor disclosures. The report noted that Nokia offers relatively extensive details on forced labor policies and traceability in its supply chain risk assessment, although its disclosures on recruitment remain limited.
+30
Labor Relations and Human Rights Practices
March 28
Nokia’s extensive disclosure on forced labor policies and practices indicates a commitment to human rights and worker protections. Ranking 13th out of 40 companies suggests relatively robust reporting compared to peers, though gaps remain in recruitment disclosures.
+50
Supply Chain Ethics
March 28
The report highlights Nokia’s strong transparency on supply chain risk assessments with robust disclosures on traceability and risk evaluation, reflecting a proactive approach to supply chain ethics despite limited information on recruitment practices.
- MAR132018
Solidium, the investment arm of the Finnish government, acquired a 3.3% stake in Nokia for approximately €844 million, aiming to secure board representation and influence strategic decisions. This move is intended to strengthen and stabilize domestic ownership in a nationally important company.
+50
Public and Political Behavior
March 28
The Finnish government's acquisition via Solidium represents active public and political engagement. By seeking influence on Nokia’s board, this intervention reinforces state oversight over a key national enterprise, promoting democratic accountability and countering concentration of corporate power.
Finnish Gov looks to influence Nokia strategy through 3.3% holding
+40
Economic and Structural Influence
March 28
By acquiring a meaningful stake in Nokia, the Finnish government is reinforcing domestic control over a crucial player in the telecommunications sector. This structural intervention helps ensure that strategic decisions are aligned with national interests rather than solely corporate profit motives, mitigating risks associated with oligarchic influence.
Finnish Gov looks to influence Nokia strategy through 3.3% holding
- MAR132018
Finland's state investment arm, Solidium, invested approximately 844 million euros to acquire a 3.3% stake in Nokia, aiming to increase domestic influence over the company. The move is seen as an effort to bolster national control of Finland's largest company amid concerns over dispersed foreign ownership.
+60
Public and Political Behavior
March 28
The state investment represents a positive intervention in public and political behavior, as increasing domestic ownership in Nokia can help counteract dispersed foreign control and align the company more closely with national interests. This has implications for safeguarding worker rights and promoting financial accountability in a key national asset.
Finland boosts influence on Nokia with $1 billion investment
+40
Economic and Structural Influence
March 28
This investment also has a positive impact on economic and structural influence by reinforcing domestic control over a major national company. By injecting capital and increasing Finnish ownership, it may help realign the balance of power away from predominantly foreign stakeholders and contribute to national economic stability.
Finland boosts influence on Nokia with $1 billion investment
- APR082016
Nokia announced plans to cut 1,300 jobs in Finland, a move criticized by the Union of Professional Engineers as exploiting weak labor protection laws. The union highlighted that while Finnish jobs are being slashed, job security in France is being preserved due to political negotiations, leaving local workers vulnerable.
-50
Executive Political Engagement
March 28
Nokia's executive political engagement, evidenced by meetings between its CEO and the French President which resulted in job protection clauses for French workers, reveals a politically driven strategy that sacrifices Finnish jobs. This maneuver undermines local labor rights and reflects a troubling prioritization of geopolitical considerations over worker welfare.
Nokia cuts prove laying off staff in Finland is too easy, says union head
-80
Labor Relations and Human Rights Practices
March 28
The planned layoffs of 1,300 Finnish workers, contrasted with the protection of 400 jobs in France, highlights a disregard for fair labor practices. This decision has been criticized by labor representatives as a demonstration of how weaker domestic labor laws can facilitate such large-scale job cuts, ultimately harming worker rights and community stability.
Nokia cuts prove laying off staff in Finland is too easy, says union head
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