Goodyear says deal with USW will reduce costs

ERJ staff report (DS)

Akron, Ohio -- The Goodyear Tire & Rubber Company said that the four-year master labour contract ratified by members of the United Steelworkers union on September 18 achieves the company's objectives and will help it to realize profitable growth by producing tyres in North America.

Goodyear said it expects the deal to provide Goodyear with cost savings of approximately $215 million over the term of the contract. Combined with savings realized through pre-bargain agreements to reduce staffing levels at five plants, the company expects to realize $555 million in total savings over the term of the agreements.

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Press release from Goodyear