HUNTERSVILLE, N.C. (AP) - A North Carolina tire company has laid off about 100 employees as part of a major restructure.
The Charlotte Observer reported Thursday that most of the layoffs at American Tire Distributors will be at its headquarters in Huntersville, a suburb north of Charlotte. CEO Stuart Schuette said Wednesday that the company's reorganization was meant to "align our capabilities with our strategy."
The company says it is one of North America's largest distributors of replacement tires and has seen rapid growth recently. But Schuette said increasing competition from other companies has forced American Tire to re-examine its structure. He says the company began shifting to a more digitally-focused approach 18 months ago.