Goodyear announces workforce reorganization; company cutting around 500 jobs globally

AKRON, Ohio — According to Goodyear Tire & Rubber Company, a 5% reduction in salaried staff, or roughly 500 positions globally, is underway as the company conducts a workforce reorganization in response to a decline in the tire industry and inflation.

The company said demand for global tire replacement"remained weak" in its fourth quarter, prompting the cuts.

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:

WEWS /  🏆 323. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Goodyear Tire to cut 500 jobs given 'significantly weaker' industry backdropGoodyear stock sinks after tire maker to layoff 500 employees, warns that fourth-quarter results were below expectations
Read more »

S&P 500 Futures, Treasury bond yields portray market’s anxiety ahead of US GDPRisk profile remains lackluster during early Thursday as market players the key US data to confirm recent dovish bias on the Federal Reserve (Fed). Ad
Read more »