SKF to cut more jobs, costs as downturn bites

STOCKHOLM, June 30 (Reuters) - SKF (SKFb.ST), the world's biggest bearings maker, said on Tuesday it was taking further actions to adapt its production to a lower demand.

The Swedish firm said in a statement the measures would affect around 900 employees globally, and that it would take restructuring charges of around 700 million Swedish crowns ($89.4 million). The company, which will close a factory in Fontenay-le-Comte in France, said the savings from the actions would amount 300 million crowns anually when fully implemented in the middle of next year.