Goodyear Tire & Rubber Said On May 31, Approved Plan To Reduce Production Capacity At Fulda, Germany Tire Manufacturing Facility By ~50%; Proposed Plan Would Include About 550 Job Reductions; Co Estimates Total Pre-tax Charges Associated With Actions Of $105M To $115M
Portfolio Pulse from Charles Gross
Goodyear Tire & Rubber announced a plan to reduce production capacity at its Fulda, Germany facility by 50%, resulting in approximately 550 job reductions. The company estimates total pre-tax charges associated with the actions to be between $105M and $115M.
June 01, 2023 | 8:57 pm
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Goodyear's plan to reduce production capacity at its Fulda facility may lead to short-term cost savings, but the job reductions could negatively impact the company's reputation.
The reduction in production capacity at Goodyear's Fulda facility may lead to short-term cost savings, which could be seen as a positive for the company. However, the job reductions could negatively impact the company's reputation and public image, potentially offsetting any short-term financial benefits.
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