Shares of Goodyear Tire & Rubber Co. fell Friday, after the tire maker said it was reducing its salaried workforce by about 5%, as part of a restructuring in response to a “challenging” industry environment and inflation-related cost pressures.
The... Shares of Goodyear Tire & Rubber Co. fell Friday, after the tire maker said it was reducing its salaried workforce by about 5%, as part of a restructuring in response to a “challenging” industry environment and inflation-related cost pressures. “While our businesses have performed at a high level through the volatility of the past several years, the uncertain near-term macroeconomic outlook and continuing impacts of inflation make these difficult actions necessary to position our business for future success,” said Chief Executive Richard Kramer.