Overview

• Bridgestone reported a 12.6% drop in Q1 profit, totaling €465 million, due to weakened demand across key markets, including Europe, Latin America, and the US.
• The company attributed the decline to a prolonged automotive industry slump, particularly in agricultural and truck tire segments.
• An Expediente de Regulación de Empleo (ERE) plan was ratified by 69% of workers at Basauri and Puente San Miguel, approving 232 workforce reductions.
• The workforce cuts include layoffs, early retirements, and negotiated departures, aligning with Bridgestone's strategy to reduce production capacity in Spain.
• The production adjustments aim to reflect the contraction in demand for agricultural and truck tires in European markets.