EMCC European Monitoring Centre on Change

Goodyear Tire & Rubber

Company/Organisation:
Goodyear Tire & Rubber

Geographic Location

Country: World

Company

Sector: Manufacturing
Manufacture of rubber and plastics products, and other non-metallic mineral products
22 - Manufacture of rubber and plastic products
Number Employed: 72000

Employment Effects

Announcement Date: 19-02-2009
Planned Job Reductions min: 5000
Planned Job Reductions max: 5000
Type of Restructuring: Internal restructuring
Foreseen End Date: 31-12-2009

Additional Information

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.