Goodyear to cut 5,000 jobs in 2009

Goodyear Tire & Rubber Co., announced today that it plans to cut 5,000 jobs by the end of this year after a fourth-quarter loss of $330 million and a 21 percent drop in sales. Goodyear is the biggest U.S. tire maker.

The cuts, which equal almost 7 percent of its Ohio based work force, follow the 4,000 jobs that Goodyear eliminated in the second half of 2008. Sales have dipped to $4.1 billion from $5.2 billion during the same period last.

Seems like Goodyear is having a very bad year (sorry we couldn’t help it).

Source: MSNBC