Goodyear to streamline European unit

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Goodyear Tire & Rubber Co. will slash more than 150 positions in Europe as part of restructuring actions designed to save more than $10 million.

"Concurrent with efforts to grow our top line through innovative new products and marketing, we are intensely focused on reducing the company’s global cost structure," says Goodyear Chairman and CEO Robert J. Keegan.

Today’s announcement involves cost reduction actions in selling, administrative and logistic areas that are expected to result in total restructuring charges of approximately $20 million ($15 million after tax), all cash-related.

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