Personnel cuts at Ovako Steel AB
Personnel cuts at Ovako Steel AB Ovako Steel AB - the world's leading supplier of special steels for the rolling bearing industry and engineering companies with particularly high demands in terms of quality - has served notice of its intention to reduce the work force at the company's plants in Hofors and Hällefors, in Sweden, by a total of 200 people. The redundancy notices result from a combination of already implemented and ongoing rationalization programs within the production and administration areas and weakened order bookings. In Hofors, about 120 people are involved, equally divided