{"id":62119,"date":"2024-03-11T13:59:11","date_gmt":"2024-03-11T05:59:11","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=62119"},"modified":"2024-03-11T13:59:11","modified_gmt":"2024-03-11T05:59:11","slug":"goodyear-plant-closing","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/goodyear-plant-closing","title":{"rendered":"More Than 500 Workers Set To Be Affected As Tire Manufacturer Closes Down Factory In Malaysia"},"content":{"rendered":"

One of the world\u2019s largest tyre makers, Goodyear, has decided to close down its manufacturing plant in Malaysia, a decision that will affect more than 500 workers.<\/span><\/p>\n

The decision was communicated through the company and Malaysia\u2019s promotion agency, and it is part of their global restructuring plan.<\/span><\/p>\n

Goodyear\u2019s corporate restructuring plan aims to deliver $1 billion in cost reductions by 2025, and the shutting down of the factory in Malaysia is expected to make a significant impact in that aim.<\/span><\/p>\n

The Shah Alam-based factory has not existed without its fair share of controversies over the years.<\/span><\/p>\n

According to a report from Reuters<\/a>, the factory has previously faced accusations of labour abuses, unpaid wages, excessive overtime, and threats levied against dozens of migrant workers.<\/span><\/p>\n

The report also stated that in 2022, Goodyear and the workers reached a settlement agreement, where it saw each of the workers being paid around RM50,000 to RM200,000 depending on the length of their employment.<\/span><\/p>\n

The closing down of the factory has also provided fuel for politicians to question the commitment of the current government in keeping existing industrial and business entities here in Malaysia.<\/span><\/p>\n

Tan Sri Rafidah Aziz, former minister of international trade and industry posted on her Facebook page<\/a> that the news of the shutdown of Goodyear\u2019s manufacturing plant in Shah Alam has left her shocked.<\/span><\/p>\n

\u201cWhile touting around the billions of possible investment and expectations being mooted and discussed, it is so important that industrial and business entities which are already here do not close shop and leave for other countries,\u201d said Rafidah in her Facebook post.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Goodyear is set to close down down their factory in Malaysia, a decision that will affect more than 500 workers<\/p>\n","protected":false},"author":51,"featured_media":62120,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[271,216],"tags":[323,2060,2062,2064,2061,2063],"class_list":["post-62119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news-updates","tag-economy","tag-factory","tag-goodyear","tag-manufacturing","tag-mnc","tag-tyre"],"acf":[],"yoast_head":"\nGoodyear Set To Close Down Malaysian Factory<\/title>\n<meta name=\"description\" content=\"Goodyear is set to close down down their factory in Malaysia, a decision that will affect more than 500 workers\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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