Yokohama announces layoffs at Virginia plant
Yokohama Tire Corp. is phasing out some 100 jobs at its Salem, Va., tire manufacturing facility over the next three weeks.
The layoffs are part of an "ongoing plan to adjust inventory and production levels to meet the slowing market conditions," says Yokohama. When the layoffs are completed, the company will employ slightly more than 1,000 at the plant.
"In this highly competitive, global marketplace, all tire manufacturers have to balance requirements with production capacity and inventory levels," says James MacMaster, executive vice president of Yokohama's Business Division.
The Salem plant has the capacity to manufacture 23,100 passenger and light truck tires a day, according to Modern Tire Dealer's 2002 Facts Issue.