{"id":64763,"date":"2023-09-24T05:29:23","date_gmt":"2023-09-24T09:29:23","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/goodyear-tire-rubber-to-cut-700-jobs-to-turn-around-asia-pacific-operations\/"},"modified":"2023-09-24T05:29:25","modified_gmt":"2023-09-24T09:29:25","slug":"goodyear-tire-rubber-to-cut-700-jobs-to-turn-around-asia-pacific-operations","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=64763","title":{"rendered":"Goodyear Tire & Rubber to Cut 700 Jobs to Turn Around Asia Pacific Operations"},"content":{"rendered":"
\n

By Sabela Ojea<\/p>\n

<\/pre>\n
Goodyear Tire & Rubber is cutting 700 positions in the Asia Pacific region as it looks to improve boost profitability in Australia and New Zealand.<\/p>\n
The tire manufacturing company’s operations will no longer have a company-owned approach. It will close nine warehouse locations and sell about 1,000 retail and fleet store locations.<\/p>\n
\n
The company will change its operating model to a third-party distribution and retail sales model, according to a Securities and Exchange Commission filing on Friday.<\/p>\n
“These actions are expected to improve Asia Pacific’s segment operating income by approximately $50 million to $55 million in 2025 and annually thereafter, primarily through a reduction of selling, administrative and general expenses,” Goodyear Tire & Rubber said.<\/p>\n
The restructuring plan is expected to come with charges of $55 million to $65 million.<\/p>\n
Goodyear Tire & Rubber predicts pretax charges of about $20 million in the third quarter, and $5 million in the fourth quarter. The remaining costs will be recorded in 2024.<\/p>\n
<\/pre>\n
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix<\/p>\n
<\/pre>\n<\/p><\/div>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
By Sabela Ojea Goodyear Tire & Rubber is cutting 700 positions in the Asia Pacific region as it looks to improve boost profitability in Australia and New Zealand. The tire manufacturing company’s operations will no longer have a company-owned approach. It will close nine warehouse locations and sell about 1,000 retail and fleet store locations. […]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-64763","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nGoodyear Tire & Rubber to Cut 700 Jobs to Turn Around Asia Pacific Operations | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Sabela Ojea Goodyear Tire & Rubber is cutting 700 positions in the Asia Pacific region as it looks to improve boost profitability in Australia and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=64763\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Goodyear Tire & Rubber to Cut 700 Jobs to Turn Around Asia Pacific Operations | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"By Sabela Ojea Goodyear Tire & Rubber is cutting 700 positions in the Asia Pacific region as it looks to improve boost profitability in Australia and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=64763\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-24T09:29:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-24T09:29:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/mw_logo_social.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=64763#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=64763\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Goodyear Tire & Rubber to Cut 700 Jobs to Turn Around Asia Pacific Operations\",\"datePublished\":\"2023-09-24T09:29:23+00:00\",\"dateModified\":\"2023-09-24T09:29:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=64763\"},\"wordCount\":182,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=64763#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=64763\",\"url\":\"https:\/\/ifintechworld.com\/?p=64763\",\"name\":\"Goodyear Tire & Rubber to Cut 700 Jobs to Turn Around Asia Pacific Operations | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-09-24T09:29:23+00:00\",\"dateModified\":\"2023-09-24T09:29:25+00:00\",\"description\":\"By Sabela Ojea Goodyear Tire & Rubber is cutting 700 positions in the Asia Pacific region as it looks to improve boost profitability in Australia and\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=64763#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=64763\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=64763#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Goodyear Tire & Rubber to Cut 700 Jobs to Turn Around Asia Pacific Operations\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Goodyear Tire & Rubber to Cut 700 Jobs to Turn Around Asia Pacific Operations | iFintechWorld","description":"By Sabela Ojea Goodyear Tire & Rubber is cutting 700 positions in the Asia Pacific region as it looks to improve boost profitability in Australia and","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=64763","og_locale":"en_US","og_type":"article","og_title":"Goodyear Tire & Rubber to Cut 700 Jobs to Turn Around Asia Pacific Operations | iFintechWorld","og_description":"By Sabela Ojea Goodyear Tire & Rubber is cutting 700 positions in the Asia Pacific region as it looks to improve boost profitability in Australia and","og_url":"https:\/\/ifintechworld.com\/?p=64763","og_site_name":"iFintechWorld","article_published_time":"2023-09-24T09:29:23+00:00","article_modified_time":"2023-09-24T09:29:25+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/mw_logo_social.png","type":"image\/png"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=64763#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=64763"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Goodyear Tire & Rubber to Cut 700 Jobs to Turn Around Asia Pacific Operations","datePublished":"2023-09-24T09:29:23+00:00","dateModified":"2023-09-24T09:29:25+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=64763"},"wordCount":182,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=64763#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=64763","url":"https:\/\/ifintechworld.com\/?p=64763","name":"Goodyear Tire & Rubber to Cut 700 Jobs to Turn Around Asia Pacific Operations | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-09-24T09:29:23+00:00","dateModified":"2023-09-24T09:29:25+00:00","description":"By Sabela Ojea Goodyear Tire & Rubber is cutting 700 positions in the Asia Pacific region as it looks to improve boost profitability in Australia and","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=64763#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=64763"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=64763#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Goodyear Tire & Rubber to Cut 700 Jobs to Turn Around Asia Pacific Operations"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/64763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64763"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/64763\/revisions"}],"predecessor-version":[{"id":64764,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/64763\/revisions\/64764"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/1898"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}