UPDATE 3-Goodyear to cut costs up to $1 bln, close plants

Newswire

(Updates share price) NEW YORK, Sept 23 (Reuters) - Goodyear Tire & Rubber Co. on Friday set plans to cut costs by up to $1 billion over the next three years, close plants and sell certain assets in a bid to counter high commodity prices and pension costs. Shares of Goodyear, the largest U.S. tire maker, rose 6 percent in morning trading on the New York Stock Exchange. The company said it would cut costs by $750 million to $1 billion over the next three years, taking cash charges ...

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