Goodyear promises more job reductions

The Goodyear management confirmed that it will cut another 1,200 jobs, beginning this year and finishing next. Goodyear has already cut 3,700 jobs this year and the bad news looks likely to continue next year. The management did not specify which jobs will be lost, nor which countries will be affected.

The job cuts, along with cuts to employee pensions and benefits, are expected to save the company $350 million next year, Chief Executive Officer Robert J. Keegan said. Goodyear also announced that it also will raise prices 2 to 3 per cent on car tyres, 5 to 6 per cent on commercial tyres from the beginning of December.