Cost of strike is high for Goodyear
Goodyear Tire & Rubber Co. has lost $30 million to $35 million in operating income each week that the current strike by the United Steelworkers has dragged on, according to Goodyear Chairman and CEO Bob Keegan.
Negotiators from Goodyear and the union are scheduled to resume contract talks today, Nov. 14.
Last week, Goodyear officials told investors that its North American production is approximately 50% versus pre-strike levels, aggregate.
"Production at our striking plants continues to increase daily." However, company officials admit that if the strike continues "for an extended period of time, our cash flow would be negatively impacted."