Union Workers Take Gadsden's Goodyear Buyout
The 90-year old Gadsden tire plant is one step closer to closing its doors permanently. Union workers voted to accept Goodyear’s offer on the plant closure. Workers will receive a buyout based on their years of service. The tire company was required to have a union vote because its current contract protected the plant from closure until 2022. According to the filing by the United States’ Securities and Exchange Commission, plans to close the facility is part of the company’s strategy to strengthen the competitiveness of its manufacturing footprint by curtailing production of tires for the declining and less profitable segments of the tire market.