(Reuters) - Goodyear Tire & Rubber said on Friday it plans to cut 700 jobs and sell about 100 retail stores and fleet locations, under a ...
- Goodyear Tire & Rubber said on Friday it plans to cut 700 jobs and sell about 100 retail stores and fleet locations, under a rationalization plan for its Asia Pacific segment. The move isJann Arden in HRM helping Habitat for Humanity | SaltWire - Goodyear Tire & Rubber said on Friday it plans to cut 700 jobs and sell about 100 retail stores and fleet locations, under a rationalization plan for its Asia Pacific segment.
The move is expected to improve the segment's operating income by approximately $50 million to $55 million in 2025, the tire manufacturer said, adding that the plan would also improve profitability in its Australia and New Zealand operations.It follows the company's similar decision announced earlier in the month for Europe, the Middle East and Africa that would lead to 1,200 job cuts.
The Ohio-based company said the approved plan that is part of its broader restructuring effort would be completed by the end of 2024.Goodyear, in August, swung to a loss of 73 cents per share for the second quarter, from a profit of 58 cents per share a year earlier.
Canada Latest News, Canada 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 700 jobs, sell retail stores in Asia PacificThe move is expected to improve the segment's operating income by approximately $50 million to $55 million in 2025, the tire manufacturer said, adding that the plan would also improve profitability in its Australia and New Zealand operations. Goodyear would also exit nine warehouse locations, a regulatory filing showed. The Ohio-based company said the approved plan that is part of its broader restructuring effort would be completed by the end of 2024.
Read more »
‘Garba Night’ cultural event moves to Sudbury ArenaOrganizers are expecting more than 700 people to attend
Read more »
Morgan Wallen show at Canadian Tire Centre was comfort food for a young crowdCountry superstar Morgan Wallen thrilled a huge crowd at the Canadian Tire Centre on Thursday as part of his One Night at a Time world tour.
Read more »
CONCERT REVIEW: Morgan Wallen delighted crowd of 16,000 at the Canadian Tire CentreCountry superstar Morgan Wallen thrilled a huge crowd at the Canadian Tire Centre on Thursday as part of his One Night at a Time world tour.
Read more »
Ex-Morgan Stanley Prime Broker Plans $3 Billion Asia Hedge FundKurt Baker, a Millennium Management alumnus and former head of Morgan Stanley’s Asia prime brokerage, is seeking nearly $3 billion in capital commitments for a multi-manager hedge fund firm to rival the likes of Citadel in the region, according to a person with knowledge of the matter.
Read more »
Catholic board welcomes 13 new teachers as enrollment keeps climbingStudent population at St. Basil alone is more than 700; seven new classrooms established at St. Georges Avenue East school
Read more »