Goodyear Tire & Rubber to Close Two German Plants

Goodyear Tire & Rubber will shut down two of its manufacturing facilities in Germany as part of a turnaround plan in Europe, the Middle East and Africa, according to a Securities and Exchange Commission filing. The tire manufacturer on Thursday said its Fürstenwalde and Fulda plants will be permanently closed to lower its production expenses and improve its competitive position in the EMEA region, leading to about 1,750 job reductions. Goodyear Tire & Rubber also said it seeks to achieve annual run-rate savings of about $60 million by the end of 2025, $100 million by the end of 2026, and $120 million by the end of 2027.

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