KIEV, Dec. 11 - Sweden's SKF, a leading global supplier of bearings, plans to dismiss around 2,500 employees globally, including in Ukraine.

According to a company report issued on Wednesday, apart from Ukraine, where the group owns OJSC SKF Ukraine (former Lutsk Bearing Plant), the reduction of the workforce will affect the United States, France, Italy, Brazil and Argentina, mainly within the Automotive Division.

The company said that the negative developments within the automotive business accelerated during the fourth quarter, leading to significantly weaker demand than foreseen.