"These new strategic initiatives sound good on paper, now it's a question of execution," said Stephen Girsky, an analyst with Morgan Stanley Dean Witter & Co, who rates Goodyear shares "neutral" and doesn't own any.
About 2,200 of the jobs being cut are Goodyear employees. The rest are from a venture in Australia with Pacific Dunlop. Goodyear had 96,000 employees, said Keith Price, a company spokesman.
Excluding the costs of the firings and a gain from the sale of a chemicals unit, Goodyear said it would have had a loss of US$0.29 a share.
On that basis, which isn't in agreement with generally accepted accounting rules, the loss was US$0.01 less than the average forecast of analysts surveyed by Thomson Financial/First Call.
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