The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.15 - Manufacture of bearings, gears, gearing and driving elements
500 jobs Number of planned job losses
Announcement Date
23 April 2013
Employment effect (start)
24 April 2013
Foreseen end date
31 December 2015
Description
Swedish rolling-element bearing manufacturer SKF will cut 500 jobs in Schweinfurt, Bavaria. This is due to decreasing sales. SKF aims to reduce costs by 350 million Euro per year and therefore will make 2500 people redundant in Europe until the end of 2015. In total, SKF employs more than 46,700 people, 7,000 of them in Germany. Forced redundancies will be avoided, but have not been ruled out. Parts of European production are to be relocated to Asia.
Sources
23 April 2013: Handelsblatt
Citation
Eurofound (2013), SKF, Internal restructuring in Germany, factsheet number 75275, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75275.
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