Reported 17 days ago
Sumitomo Rubber announced the closure of its tire manufacturing plant in western New York, resulting in the loss of 1,550 jobs. The decision, attributing to financial losses and competitive market pressures, came after failed attempts to sell the facility and significant investments that did not improve performance. Local officials expressed surprise at the lack of prior discussion about the impending closure, while the company is now coordinating severance packages with the United Steelworkers Union.
Source: YAHOO