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SKF Restructures Capacity at Gothenburg
04/06/2010 - SKF recently implemented a program to adjust manufacturing capacity in Gothenburg, Sweden, including early retirement, voluntary compensation, organizational reallocation, and investments in skills and development. The restructuring affects around 150 people.
SKF recently implemented a program to adjust manufacturing capacity in Gothenburg, Sweden, including early retirement, voluntary compensation, organizational reallocation, and investments in skills and development. The restructuring affects around 150 people.
The total cost of the restructuring activities, which will be charged to the income statement in the first quarter, will be around SEK 90 million and will impact the Industrial Division. SKF says the benefit of these actions will be around SEK 50 million per year when fully implemented by the third quarter 2010, at the latest.
“We have worked very hard together with the union representatives for over a year to avoid making people redundant, at the same time as we have adapted our cost levels to lower demand. We are very glad that we have found a long-term solution that means we can keep important skills and avoid production disruptions,” said Carl Orstadius, Managing Director, SKF Sverige AB.
SKF is a leading global supplier in the areas of bearings, seals, mechatronics, services, and lubrication systems. The Group's service offering includes technical support, maintenance services, engineering consultancy, and training. SKF is represented in more than 130 countries and has 15,000 distributor locations worldwide. Annual sales in 2009 were SEK 56,227 million.
