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Goodyear Closing 92 Stores: What Does it Mean to You?


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I saw this story and it made cringe, it has implications for students, shops and the supply chain.

Also, as a former employee at a Goodyear store (franchise), it make me a little sad.

 

 

Goodyear Exits Underperforming Retail Locations

AKRON, Ohio, August 19, 2008 –In a move to improve the profitability of its U.S. retail operations,The Goodyear Tire & Rubber Company today said it plans to exit 92underperforming locations by the end of the year.

"Following a rigorous review of operating performance and local market dynamics, these
company-owned outlets are not producing acceptable returns," said ScottVogel, vice president, retail operations, North American Tire.

"Taking this action now willallow us to focus our attention on locations with the best long-termpotential," he said. "It will help position Goodyear to be a strongercompetitor."

Vogel said the company is notannouncing the store locations impacted due to its desire to firstcommunicate with their approximately 500 full-time and 100 part-timeassociates as well as property owners of leased facilities.

The action will result inafter-tax charges of approximately $30 million, of which $15 millionwill be recorded in the third quarter of 2008. In addition to thestrategic benefits associated with it, the action is expected toeliminate losses related to these locations of approximately $9 millionannually.

 

 So what does it mean to you?

Students: There will be a lot of ex-Goodyear technicians and tire busters looking for jobs.

Shops: Less competition? Maybe. But, there will be a lot of empty prime retail space looking for buyers or renters. It might be a chance to upgrade your location.

Equipment Manufacturers: Remember when Penske/Kmart closed their locations? There was a glut of used shop equipment on the market. While the number of closing Goodyear stores is not as great, it will still have  an impact on the market.

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  • Have you checked out Joe's Latest Blog?

         0 comments
      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
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