Tire giants make major layoffs
Recent news shows that in response to changes in the European tire market, production needs to be adjusted. Bridgestone Hispania Manufacturing announced that it has officially notified employee representatives of its intention to initiate collective dismissal procedures. Bridgestone said on April 1 that the plants affected by the procedure include the agricultural and truck and bus radial tire plant in Puente San Miguel, Cantabria, and the TBR tire plant in Basauri, Basque Country.
The rise of non-European manufacturers has led to increased competitive pressure, and their market share has gradually increased. "The challenging market situation and changes in the market structure require adjustments to production capacity to improve our competitiveness," the statement added. Earlier this year, Bridgestone Americas announced in a press release that the company would close its truck and bus radial tire plant in Lavergne, Tennessee, and lay off 700 people there.
01 Apollo layoffs
Not long ago, tire manufacturer Apollo was laying off 60 people at its plant in Enschede. Reports show that Indian tire manufacturer Apollo Tyres is laying off about 60 people at its Dutch plant in Enschede. According to the person in charge, Apollo has noticed a sharp drop in demand in this field over the past five years.
02 Goodyear closes factory + layoffs
Foreign media reports show that Goodyear expects to lay off 850 people at its Danville plant as it plans to repurpose the truck and bus radial tire plant to produce aircraft tires. Goodyear expects to basically complete the rationalization plan by the end of 2025 and estimates that the total pre-tax expenses associated with the move will be between $130 million and $140 million (125 million to 134 million euros). Goodyear expects these measures to increase operating income in its Americas division by $15 million in 2025 and $65 million per year thereafter. The Danville plant has been in operation since 1966 and has 2,000 employees. It is Goodyear's only plant in North America that produces aviation tires. Earlier, Goodyear had said it would close the Malaysian plant as part of a cost-cutting strategy, and the closure of the Malaysian plant would result in 550 workers losing their jobs.
03 Yokohama closes multiple plants
In January 2025, Yokohama announced plans to close its Prague plant in the Czech Republic in June 2025. After the plant is closed, production capacity will be transferred to other plants within the group. It is understood that the Yokohama Prague plant produces agricultural tires. The plant has been in operation for more than 90 years and faces many problems such as inefficiency. At the same time, the Yokohama Mahaldai plant will cease operations on December 31, 2024.
04 Sumitomo will close the 100-year-old plant and lay off 1,500 people
Foreign media reports show that Sumitomo, the largest manufacturing plant in western New York, announced that they are preparing to close, which will eliminate 1,397 union and salaried jobs. The 100-year-old manufacturing plant is expected to be completely closed in May 2025.
05 Michelin will close several factories in 2025
A few months ago, Michelin announced that it would close two French factories and lay off 1,250 people. Michelin said that competition from cheap truck tires in 2025 forced it to restructure, including three factories in Germany. Many tire companies are laying off employees, and the global tire landscape is changing.
