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Goodyear not alone: Factory closures hit Germany, UK as well - Zafrul

Goodyear has assured that they will provide compensation higher than what is mandated by law.

08 Mar 2024 04:54pm
Goodyear, a leading tire manufacturer, announced the closure of its Shah Alam factory after 52 years of operation. - Photo by 123RF
Goodyear, a leading tire manufacturer, announced the closure of its Shah Alam factory after 52 years of operation. - Photo by 123RF

KUALA LUMPUR - Goodyear is currently collaborating with several companies, including Proton Holdings Bhd to employ its workers who are affected by the closure of its factory in Shah Alam.

Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz said the company has taken steps to ensure a smooth transition for its workers.

Additionally, Goodyear has assured that they will provide compensation higher than what is mandated by law.

"The closure of the Shah Alam factory is part of the cost-cutting measures undertaken by the company as it is targeting a cost reduction of up to US$1 billion per annum.

"Goodyear is also set to close two tyre factories in Germany, affecting 1,750 workers. A tyre factory in the United Kingdom is also slated for closure, so it's not just the operations in Malaysia that are affected, but Goodyear's operations worldwide are also impacted," he said in a message on the X app on Friday.

Earlier today, the Malaysian Investment Development Authority (MIDA) said that the government, through initiatives led by the Ministry of Investment, Trade and Industry (MITI) and MIDA, has mobilised a special team to facilitate job placements, as well as offering upskilling and reskilling programmes for the 500 affected employees. - BERNAMA

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