SKF Bearings Layoffs Job Cut: fires 2500 employees in Sweden

The economic situation is worsening and all the sectors are affected by it. Now, the Sweden Based SKF Bearings has decided to go for layoffs - another 2500 employees may be fired by the company.

How many employees will be fired in the SKF Bearings Layoffs
Around 2500 employees will see the job cut by SKF Bearings. In 2007, the total employee strenth was around 43000.

What are the businesses of SKF Bearings?
The company is the world's leading maker of ball bearings.

What are the primary reasons for the SKF Bearings Layoffs?
The layoffs are said to be because of the worsening of the global markets, especially in the automobile sector, where its clients - the auto manufacturers are struggling and cutting productions which is hurting this company as well.

Which locations will be affected by the SKF Bearings Layoffs?
Around 300 jobs will go at its headquarters at Des Moines, Iowa, while another will be cut in 250 in 45 other locations.

When will the SKF Bearings Layoffs happen?
No info is available about the exact dates, but it is learnt that it will happen in December 2008.

Which segments will be affected in the SKF Bearings Layoffs
Aroudn 1300 temporary workers are set to loose their jobs. Remaining will be permanent employees.