Goodyear Tire & Rubber

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
(22 - 23) Manufacture of rubber, plastic and non-metallic minerals
22 - Manufacture of rubber and plastic products
22 - Manufacture of rubber and plastic products
5,000 jobs
Number of planned job losses
Job loss
Announcement Date
19 February 2009
Employment effect (start)
Foreseen end date
31 December 2009

Description

Goodyear, the US-based world´s largest tire company, is to cut 5,000 jobs out of a total 72,000 worldwide due to the financial loss of USD 330 million in fourth quarter of 2008. The restructuring programme would cut operational costs by USD 700 million this year.

Sources

  • 19 February 2009: Hospodárske noviny

Citation

Eurofound (2009), Goodyear Tire & Rubber, Internal restructuring in World, factsheet number 68246, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68246.