Swedish SKF Group layoff 1,600 people worldwide

  Yesterday, at the Swedish SKF Bearing Group global video conference was the SKF angular contact ball bearing distributor in China, Sweden, SKF Group expects 2010 global layoffs more than 1,600 people in two new factories built SKF India increased by about 500 people, in order to reduce costs and speed up SKF Group is the global pace of development.
In 2009, due to the financial crisis, the global economic slowdown, SKF Group was approximately 4900 people worldwide layoffs around (mainly U.S. and European markets), due to the successful implementation of the program, the face of the market slowdown in 2010, SKF planned layoffs worldwide about 1,600 people, and three new factories in the world, two in India, has been completed, one in Russia, with a total investment of approximately $ 490 million.
SKF Bearing Group CEO tomjohnstone in this global layoffs, said: As the market slow economic recovery, we must adopt appropriate solutions to address the global economic development, and at the same time in order to reduce the cost of our production capacity and SKF bearings price, so that the interests of customers maximization, we decided in 2010 to lay off 1,600 people worldwide solutions.