Goodyear to Slash 5,000 Jobs

Feb. 18, 2009

Q4 sales down 20%

Goodyear Tire and Rubber announced plans on Feb. 18 to cut 5,000 more jobs and to freeze salaries in 2009 after a fourth-quarter loss of $330 million.

The job cuts come in addition to 4,000 eliminated in the second quarter of 2008, the company said.

In the fourth quarter, Goodyear saw sales slump 20% to $4.1 billion, with the crisis in the automotive sector taking its toll.

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