United Steelworkers members last week voted two-to-one to approve the new contract. The strike took a toll on both sides, but analysts expect Goodyear to be better positioned for the future. Shares in the Akron-based company closed Friday higher than they've been in 4 1/2 years.
Goodyear will get out from under some legacy costs by paying into an independently-run health care fund for employees and retirees. New workers will start at a lower wage base than veterans. The company will offer buyouts for workers at its Tyler Texas plant, scheduled to close at the end of the year. And amidst fears of job outsourcing, Goodyear has agreed to invest half a billion dollars in its remaining American plants.
Strikers said they received both encouragement and insults from salaried workers during the long strike. A few strangers even handed them money.