Goodyear Takes 2Q Loss

Goodyear Tire & Rubber Co. said Thursday it lost $221 million in the second quarter as sales fell 25%.

The largest U.S. tire maker lost 92 cents per share in the quarter, compared with a profit of $75 million, or 31 cents, a year earlier, the company said.

The company said it implemented cost savings measures of $345 million in the first half of 2009, including a work force reduction of about 5,500. It also launched 23 new products in the second quarter, in addition to the 19 from the first quarter, and aims to launch a total of 50 new products by the end of the year.

Sales fell to $3.9 billion from $5.2 billion a year earlier.