UPDATE 1-SKF to cut more jobs, costs as downturn bites

Newswire

* To cut around 900 jobs * To result in restructuring costs of 700 million crowns * To yield annual savings of about 300 million crowns * Shares down 2.0 percent (Adds detail, background, share price) STOCKHOLM, June 30 (Reuters) - Swedish SKF , the world's biggest bearings maker, said it would cut about 900 jobs to scale back capacity in the face of weaker demand. SKF, which has slashed thousands of jobs due to the economic downturn, said on Tuesday the measures would result in ...

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