Mar. 21 at 1:44 PM
$GT Goodyear Tire to cut roughly 600 jobs across EMEA
According to a regulatory filing, on March 16, 2026, Goodyear Tire approved a rationalization plan in Europe, Middle East and Africa to improve its cost structure as part of actions the company expects to take in order to streamline its sales and distribution model and simplify business processes. The proposed restructuring actions would lead to a reduction of approximately 600 positions across multiple countries within EMEA, while also creating approximately 200 new roles to support the organization moving forward, resulting in an overall net reduction of approximately 400 positions. In certain countries, relevant portions of the rationalization plan remain subject to consultation with employee representative bodies.
The total pre-tax charges associated with these actions are expected to be between
$100 million and
$110 million, of which
$75 million to
$85 million are expected to be rationalization charges primarily for associate-related and other exit costs. Total cash outflows for this plan are expected to be
$100 million to
$110 million, of which we expect
$25 million to occur in 2026,
$50 million in 2027, and the remainder in 2028 and 2029. The Company expects these actions to be substantially complete in 2028. These actions are expected to improve EMEA's segment operating income by approximately
$35 million to
$40 million in 2028 and by approximately
$50 million annually thereafter.
