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Updated Thursday, December 11, 2008 10:48 am TWN, Bloomberg

SKF to cut 2,500 jobs after orders drop accelerates

HELSINKI -- SKF AB, the world’s largest ball- bearing maker, said it plans to cut 2,500 jobs following a steeper-than-expected drop in demand from auto makers and industrial customers. The job cuts, equal to about 6.3 percent of the total workforce, will result in a 470 million-krona (US$58 million) charge, the Gothenburg, Sweden-based company said Wednesday.
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