Goodyear contract update

Goodyear and the union reached a tentative agreement last week to end the strike by 15, union workers in the United States and Canada, and announced the deal early Friday morning. The Akron, Ohio-based company said under the deal it can pay lower wages and benefits for new hires during the first three years of employment. Goodyear will close its plant in Tyler, Texas, after Dec. When the plant closes, the company said it will have eliminated 14 million units of high-cost tire capacity out of a targeted 15 million to 20 million.

Goodyear, whose shares were up 3. Taken with pre-contract agreements, the largest U. Goodyear provided job security to six of the seven plants over the life of the contract, leaving jobs at a plant in Union City, Tennessee, unprotected.

In late July, Goodyear executives said they were starting to see signs of economic stabilization and recovery globally.

My Membership. Share This. Share this. Charles Wilborn. Goodyear expects local unions will schedule ratification votes within the next few weeks.

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