Pension legislation equals significant savings for Goodyear
Goodyear Tire & Rubber has expressed its approval of the legislation approved by the United States Congress and signed by Barack Obama on 6 July, not least because it should save the company some US$375 million over the next five years. The savings are related to pensions – a sensitive topic for many Goodyear employees following the significant changes made to the tyre maker’s pension plan in recent years, yet the company states the legislation will offset historically low interest rates and enable companies to invest in business growth and creating jobs.