Goodyear to Cut Jobs

If Goodyear is a name that you have only seen on the side of a blimp at sporting events then you are in luck. Today we are going to talk about job cuts the company is making, but before we do that we are going to take a look at how the company has chosen to describe itself, “Goodyear is one of the world’s largest tire companies.  It employs approximately 72,000 people and manufactures its products in 53 facilities in 22 countries around the world.  Its two Innovation Centers in Akron, Ohio and Colmar-Berg, Luxembourg strive to develop state-of-the-art products and services that set the technology and performance standard for the industry.  For more information about Goodyear or its products, go to www.goodyear.com/corporate.”

Sadly the company is not being so good to the company. They are getting ready to cut back on workers in a plan to reduce their expenses. The company will be cutting workers at its Fayetteville facility, and it total they expect about 200 workers will be impacted by the job cuts. These job losses are, if they come in a single wave, enough to qualify as a mass layoff action under the current federal guidelines. For those of you who are not familiar with the idea of a mass layoff action here is a look at how the federal government defines the term, “The Mass Layoff Statistics (MLS) program collects reports on mass layoff actions that result in workers being separated from their jobs. Monthly mass layoff numbers are from establishments which have at least 50 initial claims for unemployment insurance (UI) filed against them during a 5-week period. Extended mass layoff numbers (issued quarterly) are from a subset of such establishments—where private sector nonfarm employers indicate that 50 or more workers were separated from their jobs for at least 31 days.”

For now the company does not have any information about its most recent fiscals out, as that will not be coming for another couple of days. The company did put out a release with information about when that data will be available, “The Goodyear Tire & Rubber Company will report third quarter 2012 financial results on Friday, October 26, to be followed by an investor conference call at 8:30 a.m. Participating in the conference call will be Richard J. Kramer, chairman and chief executive officer, and Darren R. Wells, executive vice president and chief financial officer. Approximately 45 minutes prior to the commencement of the call, the company will post the financial and other related information that will be presented on its investor relations Web site: http://investor.goodyear.com.”

This is not the first time that companies surrounding the automotive industry have been impacted by job cuts. Here is an excerpt from our earlier coverage of job cuts at The Demmer Corporation (http://www.layoffwatch.com/2012/09/demmer-corporation-to-cut-jobs/), “It looks like the company is going to be cutting back on about 200 jobs as part of a plan to cut back on costs. The loss of this many jobs at one time will be more then enough to qualify as a mass layoff action under the current federal guidelines…”

Update: Countless Job opportunities are available at The Goodyear Tire & Rubber Company, click here to know more.