Goodyear Tire & Rubber Co. shipments to the consumer and commercial replacement markets were up last month, according to a report released by the Akron, Ohio-based tiremaker today.
However, Goodyear's unit shipments to consumer and commercial original equipment manufacturers dropped considerably.
The company slashed 5,500 jobs globally throughout the month of April as part of "significant" production cutbacks.
"Very substantial production cutbacks also will occur in May and June to reduce finished goods inventories," say Goodyear officials.
Last week, Goodyear announced it will raise prices on most of its Goodyear, Kelly and Dunlop brand passenger and light truck tires up to 4% on June 15. The tiremaker also will hike prices on its Aquatred 3 passenger and bias light truck tires 3% on the same date.
