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Goodyear approves closing chemical plants in Niagara Falls and Bayport, cutting about 85 jobs and taking $55M to $75M in charges
GTGoodyear Tire & Rubber Co
On September 29, 2026, The Goodyear Tire & Rubber Company approved a plan to close its chemical manufacturing facilities in Niagara Falls, New York, and Bayport, Texas, resulting in approximately 85 job reductions. The company estimates total pre-tax charges of $55 million to $75 million, including roughly $30 million in cash costs for plant decommissioning and exit expenses, with the remainder being non-cash charges such as accelerated depreciation. Approximately $35 million is expected to be recorded in the third quarter of 2026 and another $15 million later that year. The rationalization aims to improve Americas segment operating income by $15 million to $20 million annually starting in 2027, with substantial completion targeted by the end of 2027. Goodyear manufactures tires and rubber products for automotive and industrial applications.