The early retirement program was approved as part of Goodyear’s new master contract with the USW.
Bloomberg said the buyout offers will be made by the end of this month, and will include a one-time cash payment equal to $2,000 for each year of services, and a minimum payout of $8,000 and maximum of $40,000.
Early retirement packages will reportedly be offered to workers at Goodyear facilities in Lincoln, Neb., Sun Prairie, Wis.; Marysville, Ohio, and St. Marys, Ohio.