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| Other Car Discussions Thread, Goodyear posts loss, laying off 5,000 workers in Off Topic and Other Discussions; Filed under: Hirings/Firings/Layoffs , Plants/Manufacturing When car sales dip like they have over the past few months, in many cases ... |
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#1
02-18-2009, 04:00 PM
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Goodyear posts loss, laying off 5,000 workers
Filed under: Hirings/Firings/Layoffs, Plants/Manufacturing  When car sales dip like they have over the past few months, in many cases suppliers feel the pinch even more than the automakers. That's the case at Goodyear, where production is down by 19% and losses are beginning to pile up. The tire giant lost $330 million in Q4 2008, compared to a $55M profit in Q4 2007. To help adapt to challenging times, Goodyear is tasked with reducing its operating costs by $700 million in 2009, and part of that reduction will come from layoffs. 5,000 salaried and hourly workers will be laid off, or 6.7% of Goodyear's global workforce. The workforce reduction comes on the heels of the 4,000 jobs that were already slashed in 2008. The automotive sales nose dive has accelerated over the past six to eight months, but Goodyear, like the domestic auto industry, has been cutting back for some time. The tire giant has reduced cost by $1.8 billion over the past three years through layoffs, production cuts, and plant closings. Goodyear plans to further cut production by 15,000 to 25,000 tires to better align production to demand. [Source: Automotive News - Sub. Req.]Goodyear posts loss, laying off 5,000 workers originally appeared on Autoblog on Wed, 18 Feb 2009 18:31:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments More... 
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#2
02-18-2009, 11:41 PM
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9000 layoffs in two years, NOT GOOD!
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#3
02-18-2009, 11:48 PM
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With all these layoffs continuing and the fed saying that 2009 is gonna be worse than they thought, I don't think the Stimulus package will create enough jobs to make a dent in this depression.
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#4
02-19-2009, 04:57 AM
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^^+1. I also think this would not be as bad if they did not scare everyone with the talk about being as bad as the depression. Scared everyone into spending no money, which then leads to the downward spiral and a self fulfilled event like a depression.
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#5
02-19-2009, 09:21 AM
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There's no way around the downward spiral anyway IMO. It's needed to create equilibrium. Too many people were spending way beyond their means & this is the result. Once the dust settles, which will take a few years & the world economy, especially our economy finds it's new place regarding spending, the "recession" (depression) will start to subside.
__________________
If it ain't fast, I'm not happy.  '04 Honda 450R (stupid fast) '87 Rockrawlin Wrangler All mods, little left factory
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#7
02-19-2009, 10:15 AM
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Good Years world headquarters is in Akron. About an hour from the shop here. Ohio already leads the country in the worst states to live in in the country for no jobs.
One thing that started this mess is OUR government ALLOWING us all to be screwed by waaaaaay overinflated gas prices. $4.00+ a gallon screwed ALOT of people. Causing them to cut back on spending and what not because they couldnt afford anything but food, their meaningful bills and gas. From there is has just gone downhill. The countries that sell us oil.... we buy the oil, ship it here, convert it to a useable source and then ship it back to them. They also buy grain and stuff from us. They should have done this... "You want to rape us on the oil prices... we'll rape you on the food. Dont want to pay it? Thats fine... eat your damn oil!" PROBLEM FIXED! That would have offset the cost and not screwed us all. Quote:
Quote:
__________________
Jarrod Barnett Sales Manager Buschur Racing Inc. 24 West Main St. Wakeman, OH 44889 440-839-1900 jarrod@buschurracing.com WWW.BUSCHURRACING.COM HIGH BOOST FORUMS *click here*
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#8
02-19-2009, 10:28 AM
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Greed.. that's a big factor in the mess we're in. Big companies like Oil making Billions of dollars. Mortgage companies that allowed non-conforming loans to go through. Consumers buying beyond their means.
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#9
02-19-2009, 10:33 AM
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Quote:
__________________
Jarrod Barnett Sales Manager Buschur Racing Inc. 24 West Main St. Wakeman, OH 44889 440-839-1900 jarrod@buschurracing.com WWW.BUSCHURRACING.COM HIGH BOOST FORUMS *click here*
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#10
02-19-2009, 03:53 PM
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Well oil prices have went way down I believe around 34 a barrel and the gas prices are starting to rise again.
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