Minister of Economic Affairs Jyri Häkämies said the northern city of Oulu will probably receive structural change funds.

Following a meeting of the government to discuss developments at the nation’s biggest company, Prime Minister Jyrki Katainen told Yle that taking care of those affected was essential. He added Finland must not flinch from its long term aid to promote growth.

For his part, Minister of Labour Lauri Ihalainen stressed no one affected should be left alone to fend for themselves

President Sauli Niinistö said he was saddened by the news. In his view, Nokia’s fortunes reflected a sad contemporary phenomenon where a company suddenly climbs to the top only to face severe losses the following day.