Goodyear Union May Strike Today
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Goodyear Tire & Rubber Co., which lost $1.31 billion over the last two years, faces a possible strike today by workers concerned that the tire maker will cut more jobs in a bid to return to profitability.
Goodyear has slashed 20,000 jobs and closed six plants since 1997. The union wants assurances that jobs are safe at the 14 factories it represents, a United Steelworkers of America spokesman said. The union and management of the Akron, Ohio-based company are “miles apart” on the issues, he said.
The company’s stock price has plunged 92% since 1998 and 69% in the last year. Shares fell 8 cents to $5.75 on the New York Stock Exchange.
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