Goodyear Tyre & Rubber, owner of Beaurepaires is to decrease its Australian and New Zealand operations and focus more on the Asian market.
According to the Australian, the company told investors in the US on Friday that its Australian and New Zealand operations were holding the company back when compared with the high growth Asian markets.
The company’s annual report which was released earlier this year revealed that Goodyear planned to close several retail outlets in both countries and cut staff numbers.
Goodyear chairman and chief executive Richard Kramer told investors, "The Australian mining boom has slowed down a little bit and the Australian economy, from a consumer perspective, has also slowed down a little.
"We have a big retail presence in there and we're looking at what we need to do to restructure that business in line with selling tyres where we can add value for our customers and ourselves."
Back in 2008, Goodyear stopped manufacturing tyres in Australia. The closure of its South Pacific Tyres factory in Melbourne's north ended nearly 100 years of tyre production and resulted in the loss of about 600 jobs.
And last year, the company closed a tyre tread manufacturing plant at Ballarat. The move resulted in 26 job losses.