The Cost of Cutting Costs

The Goodyear Tire and Rubber Company have disclosed that the three-month USW strike cost them more than US$30 million a week.

Leading company executives said that Goodyear will continue to feel the strike’s financial impact through to the middle of the year, but the company has nevertheless achieved its goal of cutting costs.

Goodyear hopes to save US$610 million over a three-year period through the contract agreement that ended the strike.