Archive for the ‘Business News’ Category

The Goodyear blimp flying above Cleveland, Ohio

The tyre company Goodyear has announced plans to close its only UK manufacturing plant with the loss of hundreds of jobs.

Unions fear all 330 workers at its Wolverhampton site will lose their jobs.

The US-owned company plans to transfer operations elsewhere and said the move would strengthen its competitiveness in a “challenging” business environment.

Goodyear said in a statement: “These proposals are subject to consultation with relevant employee representative bodies.”

Goodyear Dunlop Tyres UK said it was determined to find responsible and fair solutions for all affected employees.

The firm said the closure would enable it to align production capacity with market demand, simplify operations, improve efficiency and reduce the structural costs of manufacturing.

It said: “Under these proposals, Wolverhampton’s compound mixing activities and production of commercial retreaded tyres would be transferred to existing production plants across the EMEA [Europe, the Middle East and Africa] region.”

Erich Fric, the managing director of Goodyear Dunlop Tyres UK, said: “We understand the impact the closure of Wolverhampton would have. We will honour our responsibilities and will do everything we can to support all employees who are affected.

“In the face of ever increasing competition, we carefully considered several options. However, we believe these proposals are needed to strengthen our competitiveness and ensure we have a sustainable business.”