Financial Times FT.com

Finns need job growth to fund pensions

By David Ibison in Helsinki

Published: March 13 2007 18:16 | Last updated: March 13 2007 18:16

Finns are not known for their loquacity, but even by their reserved standards last week’s statement from Perlos, a no-frills manu­facturer of covers for mobile phones, was blunt. “There are no possibilities to continue production operations in Finland,” it declar­ed, and with that 1,123 people were out of work.

The sackings ended more than 50 years of production in Finland, but should have come as no surprise to anyone who had noted recent announcements from Perlos that it had been adding manufacturing capacity in low-cost countries – China, Hungary, Brazil and Mexico.

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