Goodyear stock ticks higher after company to cut jobs in Europe, Middle East and Africa

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Shares of Goodyear Tire & Rubber Co. rose 1.5% in the extended session Friday after the tire company said it has embarked on a “rationalization plan and...

Shares of Goodyear Tire & Rubber Co. GT, +0.08% rose 1.5% in the extended session Friday after the tire company said it has embarked on a “rationalization plan and workforce reorganization” in Europe, Middle East and Africa aimed at improving its cost structure.

“This restructuring is a part of a broader set of actions the company expects to take in order to fundamentally streamline its business, improve its competitive position and drive growth,” Goodyear said in a statement. That broader plan likely will be shared with investors in the fourth quarter, Goodyear said. For EMEA, the proposed reorganization would lead to a reduction of about 1,200 positions across multiple countries in the region while creating about 500 new roles, the company said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines