Japanese tyremaker Bridgestone said Friday it would shed nearly 900 jobs in Australia and New Zealand as it closes manufacturing plants amid a world-wide slump in demand for cars. The company said it would shut its tyre manufacturing facility in Adelaide in southern Australia by the end of 2010 and another plant in Christchurch in New Zealand by the end of 2009, the company said.
"Regrettably, the closures will affect around 275 employees in Christchurch and 600 in Adelaide," the company said in a statement. Bridgestone, which vies with France's Michelin to be the world's top tyremaker, posted a net loss of 38.34 billion yen (420 million dollars) for January-June, a turnaround from a year-earlier profit of 37.24 billion yen.