Nokia 2008 Annual Report Download - page 116

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6D. Employees
At December 31, 2008, Nokia employed 125 829 people, compared with 112 262 people at
December 31, 2007, and 68 483 at December 31, 2006. The increase in the number of personnel on
December 31, 2008 compared to December 31, 2007 was primarily attributable to acquisitions
completed in 2008 and the fact that the number of employees of Nokia Siemens Networks from
January 1, 2007 to March 31, 2007 included the employees of our former Networks business group
only. The average number of personnel for 2008, 2007 and 2006 was 121 723, 100 534 and 65 324
respectively, divided according to their activity and geographical location as follows:
2008 2007 2006
Devices & Services ......................................... 57443 49887 44716
NAVTEQ
(1)
................................................ 3969 — —
Nokia Siemens Networks
(2)
.................................. 59965 50336 20277
Corporate Common Functions ................................ 346 311 331
Nokia Group ............................................. 121 723 100 534 65 324
Finland .................................................. 23478 24698 24091
Other European countries ................................... 37714 30488 14490
MiddleEast & Africa ........................................ 5032 3384 724
China ................................................... 14099 11410 6893
AsiaPacific ............................................... 20359 14873 7915
North America . ........................................... 8427 5674 6050
Latin America . . ........................................... 12614 10007 5161
Nokia Group ............................................. 121 723 100 534 65 324
(1)
On July 10, 2008, Nokia completed the acquisition of NAVTEQ Corporation. NAVTEQ is a separate
reportable segment of Nokia starting from the third quarter 2008. Accordingly, the average
number of NAVTEQ personnel is for the period from July 10, 2008 to December 31, 2008.
(2)
As of April 1, 2007, our consolidated financial data include that of Nokia Siemens Networks on a
fully consolidated basis. Nokia Siemens Networks, a company jointly owned by Nokia and
Siemens, is comprised of our former Networks business group and Siemens’ carrierrelated
operations for fixed and mobile networks. Accordingly, the average numbers of personnel for
2008 and 2007 are not directly comparable between each other or to the average numbers of
personnel for 2006.
Management believes that we have a good relationship with our employees and with the labor
unions.
6E. Share Ownership
General
The following section describes the ownership or potential ownership interest in the company of the
members of our Board of Directors and the Group Executive Board, either through share ownership or
through holding of equitybased incentives, which may lead to share ownership in the future.
In line with the Company policy, approximately 40% of the remuneration paid to the Board of
Directors has been paid in Nokia shares purchased from the market. Nonexecutive members of the
Board of Directors do not receive stock options, performance shares, restricted shares or other
variable compensation.
For a description of our equitybased compensation programs for employees and executives, see
Item 6B. “Compensation—EquityBased Compensation Programs.”
115