NEW YORK (Feb. 14, 2001) — Goodyear will cut 7,200 jobs this year from its global workforce in a move that company management expects to yield $150 million in bottom line benefits this year and $250 million annually thereafter.
Goodyear provided no details as to where the job cuts would take place, or how fast, other than to say they would be a combination of early retirement and other incentive-based programs.
The company wouldn´t rule out plant closings being part of the total. Taken together with 3,500 job cuts affected last year, Goodyear by year-end 2001 will have reduced its payroll by more than 10 percent, Goodyear Chairman Sam Gibara told analysts.
The newly announced cuts do not include 500 jobs being eliminated in Australia at Goodyear´s joint venture there, South Pacific Tyres, Mr. Gibara said.