Mass job losses as major factory owner moves business overseas

A major New York tire factory that has operated for over a century is set to close after its executives moved its manufacturing overseas. Sumitomo Rubber USA, which owns tire maker Dunlop, fired 1,550 people this week as the Japanese company plans to close its Buffalo factory. The company did not announce plans at the same time to open a new factory, but said it made the 'difficult decision' because the New York manufacturer couldn't keep up with overseas prices.
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Mass job losses as major factory owner moves business overseas