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Europe to bear 40% of Goodyear’s global job cuts

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The news that Goodyear lost $104 million in the fourth quarter of 2022 won’t be welcome in the company’s Europe Middle East and Africa (EMEA) region. The official figures also confirmed projections a fortnight earlier that EMEA’s own fourth-quarter 2022 loss of $80 million would make up the lion’s share of the red numbers. Back then, Goodyear’s Ohio-based global executives announced plans to cut 5 per cent of the firm’s global salaried workforce and official statements featured implicit references to the underperformance of the EMEA region, raising questions about how many jobs would be cut in Europe.

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  1. Goodyear to cut 5% of salaried staff globally, $80 million 4Q loss expected in EMEA
  2. Cooper Tire joins the Goodyear team
  3. Integration on-track: Goodyear reports 16% growth plus greater synergies from Cooper Tire acquisition
  4. Price mix contributed more to Goodyear EMEA 3Q figures than Cooper Tire sales
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Goodyear mulling ‘partial unemployment’ in Luxembourg

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In the absence of specific information regarding Goodyear’s plans to cut 5% of its salaried workforce worldwide, uncertainty exists as to where the axe will fall. But it appears Luxembourg has been spared the worst, with media firm RTL Luxembourg reporting that Goodyear has “no official plans” to make staff redundant there. But this doesn’t mean they’ll be entirely unaffected by the tyre maker’s belt-tightening.

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  1. Fast small-batch production: Goodyear opens Luxembourg facility
  2. Goodyear’s Cooper integration: Almost 500 jobs to go
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  4. Dynamic simulator for Goodyear’s European test centre
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Goodyear to cut 5% of salaried staff globally, $80 million 4Q loss expected in EMEA

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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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Related news:

  1. Integration on-track: Goodyear reports 16% growth plus greater synergies from Cooper Tire acquisition
  2. Price mix contributed more to Goodyear EMEA 3Q figures than Cooper Tire sales
  3. Cooper Tire joins the Goodyear team
  4. Goodyear reports 42% net sales increase in 2021, EMEA back in black
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“Fear & insecurity” within Nokian Tyres’ Central Europe region

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The EU ban on tyre imports from Russia has hit one company particularly hard: Nokian Tyres. Prior to February 2022, the Finnish manufacturer produced 17 million tyres a year in a factory near St. Petersburg, 82 per cent of its global output. Ten million of these were exported, mainly to Europe. This has no longer been possible since 10 July, with consequences for Nokian Tyres’ Central Europe sales region.

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  1. Nokian Tyres appoints Anna Hyvönen EVP of entire Passenger Car Tyres business
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Goodyear’s Cooper integration: Almost 500 jobs to go

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During the second quarter of 2022, The Goodyear Tire & Rubber Company approved a plan related to the integration of Cooper Tire. This plan aims to streamline the company’s global administrative structure by reducing duplicated positions, and it will also result in the closure of “redundant” Cooper Tire warehouse locations in the Americas. According to Goodyear, the plan will result in “approximately 490 job reductions.”

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  1. Goodyear completes Cooper Tire acquisition
  2. Cooper Tire joins the Goodyear team
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Continental streamlining its hose production in Germany

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Continental has announced a reorganisation within its non-tyre business that will lead to the closure of one of its factories in Germany and affect up to 870 jobs. These changes are taking place within the company’s ContiTech group sector and specifically apply to the Mobile Fluid Systems (MFS) business area, and are occurring as the sun continues to set over Germany’s ICE vehicle sector.

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Goodyear moving low-volume tyre production from Colmar-Berg plant

Approximately 100 jobs will be cut at the Goodyear tyre factory in Colmar-Berg, Luxembourg under plans to relocate production of low-volume tyre lines to other Goodyear plants in Europe that have the required capacity and resources for the job. It appears the tyre maker intends to complete this restructuring process within the coming 12 to 18 months.

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Béthune tyre factory closure ‘the only viable path’: Bridgestone

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Bridgestone

Tyres & Accessories contacted Bridgestone for its response to the statement put out by French authorities following its decision to shutter its tyre factory in Béthune, France. Bridgestone addressed the characterisation of the closure as a “premeditated murder,” the idea that the plant has been deliberately allocated low-margin products, and that the plant had been passed over for investment.

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Bridgestone Béthune closure ‘a premeditated assassination’ – Bertrand

The president of the Hauts-de-France region has labelled Bridgestone’s planned closure of its Béthune tyre manufacturing plant “brutal” and a “premeditated assassination.” For good measure, Xavier Bertrand added “we are dealing with cynics and liars” in his strongly-worded response to Bridgestone’s announcement. In a joint statement with the French government, Bertrand’s Hauts-de-France Region called on the Bridgestone group to “assume its responsibilities,” alleging that the company’s divestment from and allocation of low-margin tyres to the Béthune plant over the last decade has “automatically” led to its deficit in competitiveness.

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Bridgestone to close Bethune, France plant

Bridgestone

Bridgestone has announced its plan to close its Bethune plant in France. The manufacturer said that the measure is being used to reduce production overcapacity and to improve cost efficiency. The proposal could impact 863 employees. Bridgestone added that it is “fully aware of the social consequences of this project and is committed to using all means at its disposal to define support plans for each employee.” The earliest the closure would take place is the second quarter of 2021. Bridgestone’s presence in France would continue through sales and retail operations, in which it employs about 3,500, the company said.

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Continental closing Aachen, Germany tyre factory

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Continental AG

Employees at Continental AG’s Aachen, Germany tyre factory were informed that the plant will be closed by the end of 2021. According to the German Handelsblatt newspapter, more than 1,800 employees will be affected by the closure. The announcement comes two weeks after Continental announced cost-cutting plans aiming at saving 1 billion euros by 2023.

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  4. Continental’s tyres and rubber business profitable in Q2, despite corona
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Auto analysts comment on ‘perfect storm’ for car sector

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SMMT

Car industry analysts have outlined the compound challenge facing the UK’s car sector following the publication of the Society of Motor Manufacturers and Traders’ half-year figures. The stats show that the first half of 2020 yielded the lowest level of UK car manufacturing since the 1950s. Edwin Kemp, head of automotive strategy at KPMG, commented that the SMMT’s June 2020 new car manufacturing analysis is a harbinger for businesses’ likely descent into insolvency throughout the automotive supply chain. Peter Barnes, head of automotive at global legal business, DWF, added that the challenges facing the UK automotive industry add up to a perfect storm for the sector.

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UK car production down -42.8%, 11,000 jobs lost in coronavirus crisis

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SMMT

UK car manufacturing output declined -48.2 per cent in June, Society of Motor Manufacturers and Traders figures reveal. Only 56,594 units were produced in the month. The SMMT revealed that the 381,357 cars produced in the first half of 2020 represent the weakest six months of UK manufacturing since 1954. This is -42.8 per cent down on 2019’s first half, with more than 285,000 units fewer produced. 11,349 jobs have been lost across manufacturing and retail during the pandemic. The SMMT warns that the fear of Brexit tariffs could endanger more jobs without dedicated restart support. The society called for greater urgency in talks to secure an ambitious free trade agreement with the European Union. Its latest survey data shows nine in 10 firms are missing clarity of information to allow them to prepare for the end of the transition to the new ongoing relationship between the UK and EU.

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Sensata cutting 160 jobs in Northern Ireland

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TPMS sensor manufacturer Sensata Technologies is cutting 160 jobs in the town of Antrim, Northern Ireland. The news follows Sensata’s decision to close its Carrickfergus, County Antrim operation in January 2020. And this was part of a downward trend that saw the company cut 125 jobs in Carrickfergus in 2018.

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Conti CEO warns staff of job cuts

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Photo: Continental AG

Continental AG is warning staff that the company has to save three-digit millions of euros, which will result in staff lay-offs, according to German business magazine WirtschaftsWoche.

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