MARCH 19, 2023 — 500 EMPLOYEES TARGETED
Goodyear has announced that they are reducing salaried staff globally by about 5%, or 500 positions, through the first six months of 2023 and that they cannot provide a definitive answer about cuts in Cooper Tire’s Findlay offices. The cuts are said to be linked to a global slowdown in the replacement tire business.
SEPTEMBER 16, 2021 — 80 LAYOFFS IN CONTINUING REORGANIZATION.
According to a company statement,
“Cooper continues to respond to changes in the tire industry, transforming our company to best position us for long-term profitable growth.
These changes include addressing our organizational structure, a process that has resulted in the reorganization of certain departments, and the elimination of approximately 80 salaried positions within North America.
This includes approximately 60 salaried positions in Findlay [Ohio] with the vast majority of those being corporate roles. The remainder of the eliminated positions are salaried roles in Tupelo [Mississipi] and Texarkana [Texas], with most being in Texarkana.
While a decision to eliminate positions is very difficult, the reorganization will help our business operate more effectively and efficiently and will align our people to deliver the transformation necessary to execute our strategic plans and drive growth.”
MARCH 3, 2021— Original post…
Akron, Ohio-based Goodyear Tire & Rubber Company, the large American multinational tire manufacturing company, has announced the purchase of Findlay, Ohio-based Cooper Tire & Rubber Company, a maker of replacement automobile and truck tires specialty tires for medium truck, motorcycle, and racing tires for $2.8 billion.
As with any acquisition, there comes a reduction in force where duplicative products, processes, and personnel are eliminated to streamline operations and reduce costs.
A company spokesperson has noted, "The initial cost benefits will come from combining corporate functions, research and development, and procurement. And while no manufacturing jobs or plants are being eliminated initially, the companies said they see opportunities to leverage their combined production system."
“As we develop business plans, we’ll start to take a look at what opportunities, including revenue growth and including how to better leverage the combined manufacturing footprint, we might be able to get. We definitely feel like those opportunities are going to be there.”
The acquisition is subject to shareholder and regulatory permissions and is expected to close in the second-half of 2021.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?