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The world's largest bearing manufacturer SKF Group in Sweden on Monday announced a restructuring plan, due to the decline in demand, will lay off 2,500 people worldwide, equivalent to about 5% of the 4.6 million workforce, to fight before the end of 2015 to cut 3 billionSwedish kronor (about $ 464 million) cost.The company said the layoffs of about 550 people in the first phase is expected to be completed, mainly in Ukraine, Italy, Sweden and the United States by the end of this year.SKF production of bearings from washing machines to aircraft be regarded as an early economic trends weathervane due to the width of its market.The fourth quarter of last year."demand has been weak, and the beginning of this year is expected to continue " said CEO - Tom Johnstone.The company spokeswoman of British good Keli'er - Osterman (Ingalill Ostman) said that the end of December last year, demand was particularly weak, not just in Europe, North America and Asia. She said: "Our industrial business is weak in all regions, especially in the European automotive market." Due to weak market demand, SKF announced in June last year to lay off 400 people in Germany, announced that it would cut production in October . SKF said on Monday, the latest reorganization will result in 15 billion kronor expenditure in 2012-2015 ,including the relocation of part of the production from Western Europe to Eastern Europe, Asia and Latin America, and merge the other part of the business. The cuts will be mainly through early retirement and voluntary redundancy, minimize the number of compulsory redundancies. FAG HCS71916C.T.P4S.UL| FAG HCS71913E.T.P4S.UL | FAG HCS71914C.T.P4S.UL | FAG HCS71912E.T.P4S.UL | FAG HCS71911E.T.P4S.UL | FAG HCS7010C.T.P4S.UL | FAG HCS71906E.T.P4S.UL | FAG HCS7008C.T.P4S.UL | FAG HCS71906C.T.P4S.UL | FAG HCS71905E.T.P4S.UL |
