Goodyear to freeze U.S. salaried worker pensions
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Goodyear Tire & Rubber Co. said on Wednesday it would freeze pensions and require salaried retirees in the United States to contribute more for health coverage to cut costs.
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US Airways Group Inc. has warned a bankruptcy court that it is considering whether to freeze or terminate two pension plans covering nearly 25,000 participants, The Wall Street Journal reports.
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DETROIT -- United Auto Workers President Ron Gettelfinger reassured General Motors Corp. and Delphi Corp. retirees and workers Tuesday about the safety of their pensions and said the union would try to preserve the jobs bank that guarantees pay for laid-off workers.
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Goodyear Tire &amp; Rubber Co. on Friday said it plans to cut about 340 jobs over the next year, and will take rationalization charges during the third quarter in an effort to reduce costs in its engineered products and chemical divisions.
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Leading economists say US taxpayers may have to pay for a pensions shortfall at the agency that protects pensions funds.
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The Goodyear Tire &amp; Rubber Co., the nation&#39;s largest tire maker, said Friday it may beat Wall Street&#39;s profit expectations for the third quarter and will amend or restate some past financial filings for 2003 and 2004.
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The US Treasury Department suspended investments in a federal employee pension fund on Thursday to keep the government below its borrowing limit, Treasury Secretary John Snow said in a letter to Congress.
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NEW YORK - The corporate pension crisis seems to be going from bad to worse. First, companies struggled to come up with the money to cover their benefit obligations, and now they want to ditch their plans altogether.
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Union members at four BFGoodrich Tire Manufacturing plants will vote this week on a tentative contract that would avoid a strike by about 3,400 US workers and end a walkout about 1,100 more employees in Canada.
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Goodyear Tire & Rubber Co. , the  largest U.S. tire maker, reported a wider quarterly loss on  Friday due to a nearly three-month strike by union workers in  North America that cost the company $367 million.
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Once a no-lose situation for both management and employees, defined-benefit pension plans are now threatening to cripple some US corporations.
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The U.S. Treasury Department tapped into a federal employee pension fund Thursday as a stop-gap measure to keep the government below its $7.384 trillion borrowing limit, Treasury Secretary John Snow said in a letter to Congress.
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DuPont Co.  on Monday said it  will sharply cut its pension plan for U.S. employees, reducing  the amount it will contribute to workers' pensions after 2007  by two-thirds.
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The appliance maker freezes pay and asks workers to quit, but rewards its executives with stock options.
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The Chrysler Group will offer hourly workers in the United States up to $100,000 to leave the company as part of a recovery plan announced this month.
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In an effort to conserve cash, financially ailing US Airways Group Inc. said Monday that it plans to ask the Internal Revenue Service for permission to delay payments into the pension plans of two of its employee groups.
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New Bush administration rules that scale back overtime eligibility for white-collar workers took effect on Monday over protests that they would slash paychecks at a time of economic uncertainty.