Firestone Liberia to Lay Off 800 Employees

MONROVIA – Liberia’s biggest private sector contractor, Firestone Natural Rubber Company, has announced a major slash of its workforce in Liberia which would affect 800 employees, representing 13 percent of its workforce.

In a rather brief statement, Firestone, an indirect subsidiary of Bridgestone Americas, Inc. said the decision was reached after a thorough and strategic review of its current operations coupled with unsustainable losses resulting from high overhead costs associated with the company’s Concession Agreement with the Government of Liberia, low natural rubber production because of the country’s prolonged civil wars and continued low global natural rubber prices. 

The headcount reduction would begin during the early quarter of 2019 and would take place throughout the company’s operations. It would include retirement, discontinuation of certain work contracts and redundancies.

“Firestone Liberia has been working closely with the Ministry of Labor and the Agricultural Agro-Processing and the Industrial Workers Union of Liberia (AAIWUL) to ensure that employees made redundant as part of this action will be done so in accordance with all applicable Liberian labor laws, company policies, and the company’s collective bargaining agreement with AAIWUL,” the statement noted.

However, the natural rubber company lamented that the measures reached alone will not be enough to restore Firestone Liberia to profitability. 

“As a result, the company will continue to evaluate all aspects of its business to ensure long-term competitiveness and determine the best allocation of company resources to optimize our portfolio, processes and culture,” the company stated.