secwatch.observer — SEC 8-K summary
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Issuer:     GOODYEAR TIRE & RUBBER CO /OH/ (GT)
CIK:        0000042582
Form:       8-K
Filed at:   2023-09-22T23:59:59+00:00
Accession:  0001193125-23-240532
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.05
LLM model:  deepseek-v4-flash:cloud@v2

Goodyear approves Asia Pacific rationalization plan with ~700 job cuts, $55-65M charges
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- Plan changes operating model to third-party distribution/retail, impacting 700 positions, 9 warehouses, ~100 stores.
- Total pre-tax charges estimated $55-65M, with $40-50M cash for associate and lease exit costs.
- Charges: ~$20M in Q3 2023, ~$5M in Q4 2023, remainder in 2024.
- Expected improvement in Asia Pacific segment operating income of $50-55M annually starting 2025.
- Plan subject to consultation; broader streamlining actions to be shared in Q4 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/42582/000119312523240532/0001193125-23-240532-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/42582/000119312523240532/d559833d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-240532

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