More jobs exported to china!!?? tell me who will buy them if they can not afford them

AUTO INDUSTRY REPORT: Goodyear to close plants

September 24, 2005

Goodyear Tire & Rubber Co., the nation's biggest tiremaker, will close plants as part of plan to reduce worldwide capacity by 8% to 12% over the next three years.

Restructuring charges will be $150 million to $250 million, the company said Friday. Goodyear has a target of $750 million to $1 billion in cost savings by 2008.

Goodyear Chief Executive Robert Keegan, who halted three consecutive years of losses in 2004 by trimming workers, closing plants and selling assets, is making deeper cuts to reduce North American costs that are limiting its competitiveness with rivals such as Bridgestone Corp.

Goodyear didn't say how many plants it would shut or disclose their location.

Keegan, who took over as chairman in June 2003, had already cut 1,400 jobs this year in addition to the 5,150, or 5.8% of its workforce, trimmed in 2003 and 2004. He has been adding production in lower-cost China.