Goodyear, the biggest US tyremaker, on Wednesday said it would slash 5,000 jobs, or nearly 7% of its workforce, and freeze salaries amid weak demand. The move comes less than a week after beleaguered US car parts suppliers formally requested $25.5bn of emergency aid from the Treasury, warning that 1m jobs could be at risk, and a day after GM and Chrysler said they needed up to $21.6bn more in federal funds to return to viability.

This entry was posted by Gwen Robinson on Thursday, February 19th, 2009 at 5:01 and is filed under Capital markets, People. Tagged with Goodyear. Edit this entry.