Goodyear to close Kariega, South Africa plant; ~900 jobs cut, $100-110M charges

GOODYEAR TIRE & RUBBER CO /OH/

Approves closing Kariega manufacturing facility in EMEA unit; ~900 job reductions including associates and contracted positions.
Total charges $100M-$110M; cash portion $45M-$55M for associate-related and exit costs; non-cash portion for accelerated depreciation and asset-related.
Expects ~$40M charges in Q2 2025 and ~$60M during remainder of 2025; substantially complete by end of 2025.
Plan expected to improve EMEA segment operating income by ~$10M in 2026 and annually thereafter.
Proposed rationalization remains subject to consultation with employee representative bodies.

item 2.05

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