Goodyear Tire & Rubber Co 8-K, filed Jul 21, 2026
Goodyear Tire & Rubber Co (GT)
8-K
2026-07-21
For: 2026-07-16
View Original
Added on
July 21, 2026
About this 8-K
Goodyear Tire & Rubber Co filed this 8-K on July 21, 2026, reporting on events of July 16, 2026.
Items reported
- Item 2.05: Exit or restructuring costs
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): July 16, 2026
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Item 2.05 Costs Associated with Exit or Disposal Activities.
On July 16, 2026, The Goodyear Tire & Rubber Company (the “Company”) reached an agreement with the United Steelworkers and approved a plan to permanently close its Fayetteville, North Carolina manufacturing facility to reduce the Company’s production capacity and production cost per tire in Americas. The plan includes approximately 1,750 job reductions. The Company expects to substantially complete this rationalization plan by the end of 2027 and estimates the total pre-tax charges associated with this action to be between $535 million and $565 million, of which $190 million to $210 million are expected to be cash charges primarily for associate-related and other exit costs, and the remaining costs are expected to be non-cash charges primarily for accelerated depreciation and other asset-related charges ($290 million to $310 million) and pension special termination benefits ($40 million to $50 million). The Company expects to record approximately $205 million to $225 million of pre-tax charges in the third quarter of 2026 and approximately $65 million to $85 million of pre-tax charges during the remainder of 2026. The majority of the cash outflows associated with this plan will occur by the end of 2027. These actions are expected to improve Americas segment operating income by approximately $90 million in 2027 and by approximately $270 million annually in 2028 and thereafter.
Safe Harbor Statement
Certain information contained in this Current Report on Form 8-K may constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995, including those statements regarding the expected amounts of charges and savings resulting from the plan. All forward-looking statements are based on management’s estimates, projections and assumptions as of the date hereof. There are a variety of factors, many of which are beyond the Company’s control, which could affect its operations, performance, business strategy and results and could cause its actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including but not limited to the risks and other factors described in the Company’s filings with the Securities and Exchange Commission, including the Company’s annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent management’s estimates only as of today and should not be relied upon as representing management’s estimates as of any subsequent date. While the Company may elect to update forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, even if management’s estimates change.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
THE GOODYEAR TIRE & RUBBER COMPANY | ||||||||
Date: July 21, 2026 | By: | /s/ Daniel T. Young | ||||||
Name: | Daniel T. Young | |||||||
Title: | Secretary | |||||||