Goodyear to cut costs up to $1 bln, close plants

Newswire

NEW YORK, Sept 23 (Reuters) - Goodyear Tire & Rubber Co. , the largest U.S. tire maker, said on Friday it will close plants and increase sourcing from Asia, cutting costs by $750 million to $1 billion over the next three years. The tire maker said it would take cash charges of $150 million to $350 million for the restructuring, which will include selling more noncore assets. Goodyear expects to cut high-cost manufacturing capacity by 8 percent to 12 percent to generate savings of ...

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