Goodyear announces 500 layoffs globally amid cost-saving actions

Goodyear

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Goodyear has announced a 5% reduction in salaried staff globally, amounting to approximately 500 job cuts.

According to Goodyear, this includes approximately 90 layoffs in Akron, where the company is headquartered.

Goodyear announced the “planned rationalization and workforce reorganization” on Friday morning as cost-cutting measures “in response to a challenging industry environment and cost pressure driven by inflation.”

“Our fourth quarter results fell short of our expectations given a significantly weaker industry backdrop, particularly in Europe,” said Richard J. Kramer, chairman, chief executive officer and president. “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.”

Akron Mayor Dan Horrigan released the following statement to 3News after the announcement:

“It’s always difficult to hear about layoffs in our community. My thoughts are with the individuals and their families impacted by the recent announcement from Goodyear. Goodyear continues to be a major employer in Akron, employing more than 2,500 people after these layoffs, and they remain invested in our community,” said Mayor Horrigan. “We look forward to their continued long-term growth and success as they combat volatile cost inflation and other challenges. My office is committed to Akron’s workers and businesses and connecting our residents with great work opportunities right here in our city.”

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