Harbel, Liberia - Firestone Natural Rubber Co. has announced plans to reduce its workforce by 13% - around 800 employees – in Liberia, west Africa, by the second quarter of 2019.
The ‘indirect subsidiary’ of Bridgestone Americas Inc. linked the decision to “continued and unsustainable losses due to high overhead costs.”
Factors also included the impact of prolonged civil wars on production and low rubber prices, Firestone Liberia, part of Firestone Natural Rubber, further stated 18 March.
Job cuts, it said, will occur across the company’s operations and include retirements, work-contract discontinuations and redundancies.
The company is evaluating all aspects of its business ‘to ensure long-term competitiveness and optimise its portfolio, processes and culture.’
In July 2016, Firestone Liberia announced a round of layoffs – cutting 500 jobs – at its plantation in Harbel.
At the time, the company cited “ongoing significant and unsustainable losses” at the plantation.