Stockholm - Ball-bearing maker SKF that also makes seals and lubrication systems said Wednesday it planned to shed 2,500 jobs worldwide, citing lower demand from the car industry and other industrial sectors.
The group has some 42,800 employees.
SKF, which has headquarters in the Swedish west coast city Gothenburg, said the cuts would mainly impact plants in the United States, France, Italy, Ukraine, Brazil and Argentina.
For the fourth quarter the group expected a 15-per-cent drop in volume compared to the corresponding business period of 2007, resulting in an operating profit of some 1.6 billion-1.7 billion kronor (192 million-204 million dollars). (dpa)