The radial tire market for agriculture (AGR) and the radial tire market for trucks and buses (TBR) have experienced a significant contraction due to the challenging macroeconomic environment. Inflation, uncertainty, and regulatory changes in the sector have negatively impacted the industry, often forcing companies to make unexpected decisions.
Bridgestone Announces layoffs in Spain
One such decision comes from Bridgestone Hispania Manufacturing, which has informed workers’ representatives of its intention to initiate a collective dismissal procedure. The affected plants are located in Puente San Miguel (Cantabria), dedicated to the production of radial tires for agricultural vehicles, and in Basauri (Basque Country), which manufactures radial tires for trucks and buses.
Bridgestone Hispania Manufacturing has, however, expressed its commitment to an open and transparent dialogue process, acknowledging the uncertainty and potential impact on workers. The company is conducting the process in collaboration with employee representatives and in alignment with its values of integrity and social responsibility.
A Challenging Economic Landscape and the Rise of Non-European Manufacturers
The situation is further complicated by the rise of non-European manufacturers, who have progressively gained larger market shares, increasing competitive pressure on established companies.
Title: Spain, Bridgestone announces layoffs
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