Goodyear Mexico has closed its tire manufacturing operation in Tultitlán, Mexico, saying its costs are incompatible with current economic conditions.
Goodyear Mexico's decision affects 1,559 employees who will receive severance payments mandated by Mexican law.
A spokesman said the company deeply regretted being forced to make the decision despite intense efforts and significant investments to improve productivity in recent years. The spokesman also said the company is looking for opportunities to transfer some of the affected employees to other facilities.
The tire maker will continue to supply products in Mexico, sourced from other locations in North America, Latin America and Europe.
