Akron, Ohio – Goodyear Tire & Rubber Company has announced it will close 92 underperforming locations in the U.S. by the end of the year, in order to improve the profitability of its retail operations. The move is expected to affect about 600 employees.
“Following a rigorous review of operating performance and local market dynamics, these company-owned outlets are not producing acceptable returns,” said Scott Vogel, vice president, retail operations, North American Tire. “Taking this action now will allow us to focus our attention on locations with the best long-term potential. It will help position Goodyear to be a stronger competitor.”
Vogel said the company will not announce the affected locations until it communicates with approximately 500 full-time and 100 part-time employees, as well as property owners of leased facilities. The action is expected to eliminate losses of approximately US$9 million annually related to these locations.