Goodyear Tire & Rubber Co. is slashing more than 700 salaried staff positions throughout its North American Tire unit "as part of an on-going program to improve the company's fixed-cost structure," say Goodyear officials.
Nearly 500 jobs will be eliminated via lay-off, including 350 at Goodyear corporate headquarters in Akron, Ohio.
Approximately 200 jobs have already been eliminated through attrition since the start of last year's fourth quarter.
Goodyear also will eliminate 34 hourly positions at its Akron Technical Center.
The actions will save Goodyear $80 million, according to company officials; $75 million of that total is expected to be achieved during 2003.
Job eliminations will be complete by March 31, 2003.
"For Goodyear to restore its earnings growth momentum in this difficult economy, especially in North America, we must improve our cost structure, simplify our business processes and operate more efficiently while continuing to serve our customers," says Goodyear President Bob Keegan.
The job eliminations "are necessary to accelerate Goodyear's turnaround and help it achieve our goals for growth, market position and financial performance."
The process will leave Goodyear with more than 3,000 employees at its Akron office.
