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Goodyear Tire Settles Wage Dispute In Malaysia: Reuters

Benzinga · 09/14/2022 06:55
  • Goodyear Tire & Rubber Co (NASDAQ:GT) has settled its labor dispute in the Malaysian factory with migrant workers, Reuters reported.
  • Migrant workers totaling 184 from Nepal, India, and Myanmar have filed lawsuits against Goodyear in Malaysia's industrial court since 2019, claiming unpaid wages and benefits.
  • The report noted that the industrial court had ordered Goodyear to pay back wages to some workers and comply with a collective agreement over compensation. 
  • The workers settlement agreements ranged from RM50,000 ($11,061.95) to RM200,000 ($44,247.79).
  • The report also noted that Goodyear is also being investigated by U.S. Customs and Border Protection over its labor practices.
  • "The company is pleased to have achieved an outcome that is agreeable to the workers," the report quoted Goodyear.
  • Price Action: GT shares are trading lower by 0.22% at $13.40 in premarket on the last check Wednesday.