Goodyear Trims Labor Costs

New workers' contract ends strike and cuts costs by $300 million over next three years; shares rally 5%

It's looking like it could be a happy new year for shares of Goodyear Tire & Rubber (GT). The company is expected to save hundreds of millions of dollars in labor costs with a new contract workers ratified Dec. 28. Wall Steet liked what it saw in the deal, sending the tire maker's shares nearly 5% higher in the year's last trading session.

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