Goodyear to cut 5% of salaried staff globally, $80 million 4Q loss expected in EMEA
Goodyear expects its EMEA business unit to report a fourth-quarter segment operating loss of approximately $80 million. Goodyear’s Luxembourg innovation centre – of the company’ key EMEA facilities – is pictured (Photo: Goodyear)
Goodyear Tire & Rubber Company is planning “rationalization and workforce reorganization” actions that would result in a 5 per cent reduction in salaried staff globally, or about 500 positions. According to executives, the move has been prompted by the “challenging industry environment and cost pressure driven by inflation.” However it is also attributed to weaker-than-expected fourth-quarter results:
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