The strike at the Nokia India factory at Sriperumbudur was called off after talks were held late last night, by the employees union, and representatives of the management with the TN labour department.
The company's management revoked the suspension of 60 workers who had been suspended last year. The union on its part agreed to the long-term wage settlement agreement that was agreed upon on Monday.
The decisions came with the TN labour minister TM Ambarasan's intervention.
Workers struck work yesterday, demanding better wage settlement terms and reinstatement of workers suspended in January this year. The strike was spearheaded by the Nokia India Employees Progressive Union (NIEPU).
In a statement Nokia said that the long-term wage settlement discussed with its employees through NIEPU on 12 July had been agreed upon.
Nokia posted a 20-per cent rise in exports at Rs12,000 crore in 2009-10, as against Rs10,000 crore last year. The company's Sriperumbudur facility, near Chennai, has emerged the largest exporter, in terms of value, among all Special Economic Zones in the country, and for Nokia, compared to other facilities.
The factory employs about 8,000 people.