The Goodyear Buyout

Editor Bates has a story up this morning about Goodyear buyouts set for this week after months of negotiations.

Goodyear-Union City is saying good-bye Wednesday to about 550 associates whose service to the company represents 14,300 collective years of experience.
Those words were issued in a recent UC Today, a company newsletter published by the Goodyear Tire & Rubber Company at its Union City plant. The 550 associates are part of a plant-wide buyout agreement between Goodyear-Union City and its USW Local 878 associates.
Union workers approved the buyout agreement with a 94 percent vote in favor of the proposal offered to the Goodyear associates. The agreement highlights three phases of workforce reductions at the local plant.

I wonder when it’s all said and done though how this will impact the local economy. Just wondering what will happen in the long term with sales revenues. As I know many of these 30+ employees, I’m pleased that this worked out for them. On another thought, if those men and women are replaced, it will be most likely at lower wages which means less money spent in several counties.

Just pondering it all.

1 comment for “The Goodyear Buyout

  1. July 1, 2009 at 3:53 pm

    The buyout is one thing. I`m wondering what this does to quality made tires ? These men and women are the backbone of Goodyear Made Tires ! A lot of experience is leaving at one time. The negotiations in Cincinatti are going on, well you can`t really call it negotiations. The take away from our employees is more aptly what is going on. I`m sure that President Rick Waggoner is in the survival mode !

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