Goodyear to cut 850 jobs at Danville plant; expects $130-140M pre-tax charges

GOODYEAR TIRE & RUBBER CO /OH/

Agreement with United Steelworkers for 850 job reductions at Danville, VA plant; plant to continue aviation and mixing.
Total pre-tax charges estimated between $130M and $140M, with $80-90M cash charges for associate-related costs.
Expects to record ~$100M in Q1 2025 and ~$40M in remainder of 2025; majority of cash outflows by end of 2025.
Actions expected to improve Americas segment operating income by ~$15M in 2025 and ~$65M annually thereafter.

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