In Business This Week
GOODYEAR'S BAD YEAR GETS WORSE
Goodyear Tire & Rubber, which is losing money in the depressed tire market, took up the hatchet again on Mar. 13 after slashing its dividend in February. This time, Chairman Tom Barrett is chopping 1,100 salaried employees--leading to a $65 million first-quarter write-off. The latest cutback in salaried staff brings to 6,700 the number sliced since early 1989.
Barrett is also easing out the head of tire operations, Jacques Sardas, who is retiring at age 60. Tire operations fell victim to unrelenting price wars both in the U. S. and overseas. Hoyt Wells, former chief of Goodyear's nontire businesses, becomes president of the entire company.EDITED BY HARRIS COLLINGWOOD