Goodyear posts losses for quarter, nine months; Restatement costs company nearly $85 million in...

Byline: Mike McNulty

More cuts are on the way at Goodyear, which said Nov. 19 it had a net loss of $105.9 million for the third quarter and will reduce its net income by almost $85 million for a 51/2-year period because of accounting and billing system errors.

Goodyear plans to trim another 1,200 jobs globally next year to go with the 3,700 layoffs it has made or will make in 2003. Since 1998, the firm has eliminated more than 20,000 jobs. The cuts are part of the tire maker's rationalization program aimed at significantly reducing costs and returning the co