Goodyear to cut 150 sales, admin jobs in Europe

Akron, Ohio - Goodyear has announced a plan to cut 150 jobs in sales, administration and logistics in Europe, with the aim of cutting costs by more than $10 million (€8 million) per year. Goodyear said the restructuring charges associated with the cuts will be about $20 million (€16 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,” said Goodyear chairman and chief executive officer Robert Keegan. “Our objective is to achieve cost reductions totaling between $750 million and $1000 million by 2008, including $150 million to $200 million in sales, administration and general (SAG) costs.”

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Press releasefrom Goodyear