Cooper Tire will lay off 80 people in North America due to a reorganization of certain departments according to a statement from the company.
Sixty salaried, mainly corporate positions, will be eliminated at the company headquarters in Findley, Ohio. Of the additional 20 cuts, the tiremaker’s Texarkana, Ark., facility will experience the majority of the remaining layoffs, but the company said cuts will also be made at the Tupelo, Miss., facility. The firm expects to eliminate salaried jobs at both locations.
“While a decision to eliminate positions is very difficult, the reorganization will help our business operate more effectively and efficiently, and will align our people to deliver the transformation necessary to execute our strategic plans and drive growth,”Cooper said in the statement.
The move comes after Cooper Tire reported a decrease in sales for the third quarter of 2017 by 2.3% (to $734 million). Sales dropped by 7% in its Americas Tire Operations (to $625 million), but experienced a 44.8% increase (to $163 million) in its International Tire Operations.
Below is the full statement from Cooper:
“Cooper continues to respond to changes in the tire industry, transforming our company to best position us for long term profitable growth. These changes include addressing our organizational structure, a process which has resulted in the reorganization of certain departments and the elimination of approximately 80 salaried positions within North America. This includes approximately 60 salaried positions in Findlay with the vast majority of those being corporate roles. The remainder of the eliminated positions are salaried roles in Tupelo and Texarkana, with most being in Texarkana. While a decision to eliminate positions is very difficult, the reorganization will help our business operate more effectively and efficiently and will align our people to deliver the transformation necessary to execute our strategic plans and drive growth.”