SKF continues to reduce cost base and to improve manufacturing structure
SKF started actions during the third quarter of 2008 to reduce its manufacturing output in light of the weakening demand affecting nearly all segments. Since then about 3,700 people have left the Group and around 1,100 are still to leave as part of previously announced programmes. In addition around 18,000 are presently working shorter time both in government supported schemes and in agreements directly between SKF and its workforce. SKF is taking further actions to both adapt manufacturing to the lower demand and to accelerate the move of production to faster growing regions of the world.