Members of the United Steelworkers (USW) have ratified a new four-year master labor contract with Goodyear Tire & Rubber Co.
"This agreement reflects the commitment of Goodyear and the USW to continue to work together to achieve our common goal of world-class competitiveness," says Richard Kramer, chief operating officer of Goodyear and president of its North American Tire business unit.
Kramer said the new master contract and recently completed local agreements build on significant changes made in the 2003 and 2006 agreements. They also address the following "core issues" impacting the competitiveness of the company's North American Tire business:
* productivity,
* compensation costs and
* flexibility.
The seven plants covered by the master agreement are located in Akron, Ohio; Buffalo, N.Y.; Danville, Va.; Fayetteville, N.C.; Gadsden, Ala.; Topeka, Kan.; and Union City, Tenn. It covers approximately 10,300 associates, close to 15% of the company's worldwide workforce.
Goodyear will hold an investor conference call to discuss details of the contract at 2 p.m. on Monday, Sept. 28. Investors, members of the media and other interested persons may access the conference call on the company's investor relations Web site: www.goodyear.com/investor, or via telephone by calling (706) 634-5954 before 1:55 p.m. that day.
