Goodyear: new contract provides $215 million in savings

Associated Press and Associated Press

CLEVELAND – Goodyear Tire ‘amp; Rubber Co. says a new national contract with the United Steelworkers union will save the company $215 million over the four-year life of the agreement.

Combined with earlier staff-reduction agreements at five plants, the Akron, Ohio-based tire maker said yesterday that it expects $555 million in savings over four years.

Goodyear agreed to invest $600 million over four years to upgrade plants represented by the Steelworkers.

The agreement ratified in mid-September covers about 10,300 workers at plants in Akron; Gadsden, Ala.; Buffalo, N.Y.; Topeka, Kan.; Danville, Va.; Fayetteville, N.C., and Union City, Tenn.