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Goodyear's profits anger French workers

Goodyear's profits anger French workers
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Strong profits just announced by tyremaker Goodyear added to the anger of the company’s French workers who are about to lose their jobs.

They clashed with police on Tuesday during protests against the closure of the Goodyear plant at Amiens in northern France.

It is to be shut after plans by Titan International, a US-based wheel and tyre maker, to take it over fell through when the unions rejected voluntary job cuts.

Union official Michael Wanen accused Goodyear of lying when it said that plant does not make a profit: “They rigged the figures to justify closing the factory, even as the group announced $700 million in after-tax profits. Goodyear has not suffered in the crisis. Companies are growing fat and the only thing they focus on is laying off workers.”

Goodyear said the plant has been losing 60 million euros a year for the last five years amid tough competition and falling demand.

The company did just post stronger-than-expected quarterly profit worldwide but said sales were down.

Goodyear also cut its forecast for this year blaming weakness in the European car market.