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General Tire.

General Tire

General Tire said more layoffs will take place during a restructuring and reorganization of the company. Under the plan, nine separate business units will be formed, with each responsible for implementing its own business plan. Each unit will operate independently. The restructuring will result in a reduction of salaried personnel in North America of more than 20% by the end of the year. Part of the reduction will come when the company's retail stores are sold. This is expected to be completed by this year. The first reductions began June 7 with 160 terminations announced, 100 of them from Akron, at the company's headquarters.
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Title Annotation:Corporate, financial news; layoffs due to restructuring and reorganization
Publication:Rubber World
Article Type:Brief Article
Date:Jul 1, 1991
Words:106
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