Goodyear sets deadline for today
If a tentative agreement between Goodyear Tire & Rubber Co. and the United Steelworkers of America is not reached before the end of the day, Goodyear says it will begin steps "necessary to achieve our overall turnaround requirements."
However, the company declined to reveal any specific plans it might take if the deadline comes and goes.
Both parties were at the table throughout last night. Although some progress has been made since negotiations began March 13, job security and health benefit issues for both workers and retirees are sticking points, according to Chuck Sinclair, senior vice president of global communications.
Contracts expired at 11 Goodyear plants in April; contracts at the tiremaker's three former Kelly-Springfield tire factories expired on July 6.
As of the end of closing Aug. 14, Goodyear's stock was trading at $5.39 a share, up 12 cents from the previous day.