Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
US tyre company, Goodyear has announced plans to close its plant located in Wolverhampton in the West Midlands region of England.
Closure of the plant, which is Goodyear’s only manufacturing plant in the United Kingdom, will result in the loss of 330 jobs over the next two years. While tyres are no longer made at the Wolverhampton plant, it produces rubber compounds for tyre factories as well as retread tyres. The company has said that the plant is no longer financially viable so it will relocate the operations to plants in Europe, the Middle East and Africa. Formal consultation has commenced with staff and their representative union, Unite. Of the 330 workers, 267 work in the mixing department, 53 workers in producing retreads and 10 people work in support roles. The majority of the workforce is aged over 55. The Wolverhampton site first began tyre production in 1927 and at its height, 7,000 workers were employed at the factory.
Goodyear has a global workforce of around 75,000 with factories located in the US, South America, Europe and Asia.
Updated, 30/11/2016; It has been confirmed that production at the Goodyear factory in Wolverhampton will cease on 20 December 2016. This will then be followed by a shutdown period, which is due to be completed by June 2017. It is estimated that as of November 2016, 70 of the original 330 strong workforce remain at the site.
Eurofound (2015), Goodyear Dunlop Tyres UK, Offshoring/Delocalisation in United Kingdom, factsheet number 83836, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/83836.
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