SKF induced cost cutting in Germany

Wednesday, 13 June 2012
The Swedish engineering company, SKF is to cut costs in Germany by offering early retirement and voluntary departures.

The company expects to cut staff by about 400 people and generate annual savings of about Skr 170 million when fully implemented in 2016, the company said in a statement. The total cost of the program is expected to be Skr170 million.
The driver for the move has been attributed largely to weaker sales in Western Europe and Asia.
By Scancomark.se Team

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