Goodyear's Bad Year Gets Worse

Goodyear Tire & Rubber, which is losing money in the depressed tire market, took up the hatchet again on Mar. 13 after slashing its dividend in February. This time, Chairman Tom Barrett is chopping 1,100 salaried employees--leading to a $65 million first-quarter write-off. The latest cutback in salaried staff brings to 6,700 the number sliced since early 1989.

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