secwatch.observer — SEC 8-K summary
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Issuer:     GOODYEAR TIRE & RUBBER CO /OH/ (GT)
CIK:        0000042582
Form:       8-K
Filed at:   2023-06-01T23:59:59+00:00
Accession:  0001193125-23-158977
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.05
LLM model:  deepseek-v4-flash:cloud@v2

Goodyear approves 50% capacity cut at Fulda plant; expects $105-115M pre-tax charges
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- Plan reduces production capacity at Fulda, Germany facility by ~50%, affecting ~550 jobs (375 associates, 175 contracted).
- Pre-tax charges estimated at $105M-$115M; $95M-$105M cash charges; ~$65M expected in Q2 2023.
- Reduces tire SKUs by ~450, with ~200 transferred to other EMEA plants.
- Expected to improve EMEA segment operating income by ~$15M in 2024 and ~$30M annually thereafter.
- Rationalization expected substantially complete by end of 2024, subject to employee consultation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/42582/000119312523158977/0001193125-23-158977-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/42582/000119312523158977/d493172d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-158977

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