Though the company had offered voluntary retirement scheme for 5,600 employees at the facility post the Nokia-Microsoft USD 7.5-billion deal, the fate of about 900 employees had "remained uncertain" following the suspension of production at the plant.
Soon after the announcement of Nokia suspending production at the facility from November 1, political parties were up against the move seeking intervention of the state government to take over the plant considering the future of about 900 employees.
According to Nokia India Employees Union sources, some of the workers have been working since the plant began its operations in 2006.
Several round of talks between the management, employees and labour department were held over last two days and settlement was reached tonight.
In a statement issued today, Nokia said the tripartite meeting resulted on a "financial package" for the employees.
"We can confirm that constructive discussions with Union representatives and labour commissioner have resulted in agreement on a financial package for Chennai factory personnel," a company statement said.
Though the statement did not reveal on the details about the "financial package", sources in the Nokia India Employees Union said it was around Rs 7.50 lakh to Rs 9 lakh that was offered per employee.
"The settlement that was offered depends upon the experience of the employees. They have told us it would include the November and December month salaries," an employee said.

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