Goodyear plans to cut up to $2 billion in costs

Akron, Ohio – Goodyear plans to slash as much as $2000 million in annual costs by 2009, doubling the original estimate of cost cuts originally laid out in 2005.

Chairman and chief executive Robert Keegan said in the tyre maker’s first-quarter earnings statement that the firm is targeting a savings goal of $1800 million to $2000 million by 2009.

Two years ago, Goodyear planned to cut between $750 million and $1000 million in costs by 2008. In 2006 the firm revised that figure, targeting more than $1000…

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