The world's third-largest tiremaker on Tuesday said the multimillion dollar cost of a three-month strike by union workers is well worth the long-term savings Goodyear Tire & Rubber Co. expects to see from the new labor deal.
During a conference call with analysts, Goodyear chief financial officer Richard Kramer said the strike that began Oct. 5 and ended last week drained between $30 million and $35 million a week from the company.
At 12 weeks long, that means the work stoppage by the United Steelworkers union representing some 15,000 workers could cost Goodyear between $360 million and $420 million, most of it in the fourth quarter ended Dec. 31.
Source: MSN Money (click to read complete article)
