Goodyear to take multimillion-dollar charges, cut jobs

Manufacturing News, Source : TheManufacturer.com
Published : 10 Sep 2004 15:20

Tire maker Goodyear Tire & Rubber Co. announced that it plans to take charges of between $29 million and $33.5 million in the third quarter, due to cost-cutting efforts in its engineered products and chemical divisions.

Goodyear will take a charge of between $23.5 million and $27.5 million due to cost-cutting measures in its engineered products division, which would include a cut of 240 jobs.

The company also plans to take a charge of between $5.5 million and $6 million from cutting 100 jobs, by the end of 2004, from its chemical business.

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