SOMERTON, Australia (Nov. 15)—South Pacific Tyres Ltd. is cutting tire production at one site and laying off staff at another as part of a restructuring program. The Australian joint venture of Goodyear and Pacific Dunlop Ltd. said the reorganization will reduce costs and should reverse the company´s losses within six months. South Pacific Tyres said it will halt heavy truck tire production and reorganize passenger and light truck tire manufacturing at its Somerton plant; sell off underutilized assets; reduce its Melbourne workforce to 1,370 from 1,865; cut back on the tire product lines it makes, and fill in the gaps with imports; and set up a "more flexible, team-based workforce" to improve productivity and performance.
Goodyear-Pacific Dunlop venture to cut production, staff
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