Goodyear Cutting 5,000 Jobs

[pennypinch]

Goodyear Tire & Rubber have announced they will have to cut 5,000 jobs this year. They cite low demand as the cause.

I imagine the new auto sales decline have a ton to do with this.

Goodyear had already cut 4,000 jobs last year and now their workers are facing another big cut.

400 positions will be cut at the factory in Danville, Va. At that factory they make tires for trucks and airplanes.

They have also said that they are freezing salaries for 2009 and that they will be reducing workweeks for soem employees.

They say eventually people will have to purchase tires once again but its hard to tell how many years it will take for them to recover.

[moneysaver]

That is a lot of people without jobs. When all this began, who would have thought that big companies would be letting go of so many employees?

You know, you get a job at a huge company, that has been in business for years, you would have thought you would be safe.

It is a shame that no one is safe anymore from losing their jobs.

[Empty Wallet]

This is such a very scary time, with all these job losses coming on a daily basis now, i am waiting for unemployment to drop the bomb that they can not except any new applications for unemployment...is that possible??