Tire maker Goodyear to close manufacturing plant in Malaysia [Reuters]
The Goodyear Tire & Rubber Company (GT)
Last the goodyear tire & rubber company earnings: 4/30 07:15 am
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Source: Reuters
to shut down its plant in Malaysia on June 30 - a decision expected to affect more than 500 employees, the company and Malaysia's investment promotion agency said. Goodyear said the decision to shutter the plant in the Shah Alam district in Selangor state - which opened in 1972 - was part of its Goodyear Forward corporate restructuring program, aimed at delivering $1 billion in cost reductions by 2025. "These decisions are not made lightly and we remain committed to treating our associates with care and respect," the company said in a statement on Thursday. "We will continue to serve the Malaysia market with our industry-leading products and solutions from other manufacturing sites within Goodyear's footprint." Goodyear has faced accusations of labour abuses, including unpaid wages, excessive overtime and threats against dozens of migrant workers at the Malaysian manufacturing plant in recent years. The company and the workers reached a settlement agreement in 2022, with each
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- 4/23/24 - Form 3
- 4/12/24 - Form 8-K
- GT's page on the SEC website