Goodyear was founded in 1898 and produces its products at 57 locations in 23 countries. The company’s website says laying off 500 employees is “a difficult but necessary step in preparing the business for future success.” In this context, approximately 55 million dollars will be spent for severance pay and other restructuring phases.
Some of the staff are expected to save about $5 million in the first quarter and about $15 million in the second quarter.
Source: Ferra
