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Cooper Reorganizes 'Certain Departments'

Posted on December 11, 2017

Cooper Tire & Rubber Co. went through a reorganization last week. Although the company would not comment on which departments were affected, it did share a few details with Modern Tire Dealer.

Approximately 80 positions were eliminated.

"Cooper continues to respond to changes in the tire industry, transforming our company to best position us for long term profitable growth," said the company. "These changes include addressing our organizational structure, a process which has resulted in the reorganization of certain departments and the elimination of approximately 80 salaried positions within North America. This includes approximately 60 salaried positions in Findlay, with the vast majority of those being corporate roles.

"The remainder of the eliminated positions are salaried roles in Tupelo and Texarkana, with most being in Texarkana. (Cooper has three tire plants in the U.S.; they are located in Tupelo, Miss., Texarkana, Ark., and Findlay, Ohio.)

"While a decision to eliminate positions is very difficult, the reorganization will help our business operate more effectively and efficiently and will align our people to deliver the transformation necessary to execute our strategic plans and drive growth."

Through three quarters, Cooper posted net income of $138 million net sales of $2.1 billion. For more 2017 fiscal year information, check out these links:

"Cooper Reports Americas Segment Tire Units Drop 7.5% in 3Q."

"Cooper's 2Q Results Reflect Market Turbulence."

"Raw Material Costs Hit Cooper Tire Hard in the 1Q."

Related Topics: Cooper financials, reorganization, tire plants

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