By Katherine Hamilton
Goodyear Tire & Rubber plans to eliminate about 400 jobs, part of a company-wide strategy to streamline sales and distribution, and simplify business processes.
The tire maker said Friday it approved a rationalization plan for its business in Europe, the Middle East and Africa to reduce costs.
The job cuts are expected to improve the region's operating income by about $25 million to $40 million in 2028, and by $50 million a year after that.
The proposed restructuring would lead to a reduction of 600 positions across the Europe, Middle East and Africa region, while creating 200 new roles.
Goodyear expects pre-tax charges of $100 million to $110 million related to the job cuts. Of that, $75 million to $85 million are expected to be rationalization charges.
The company anticipates $25 million of the total associated cash outflows will occur this year, with $50 million in 2027 and the remainder in 2028 and 2029.
The actions should be substantially complete by 2028, Goodyear said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 20, 2026 17:09 ET (21:09 GMT)
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