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Facing a nearly 30 percent drop in sales, Goodyear has announced plans to buyout 550 workers. On top of the buyouts the tire company will reduce production at a plant in Union City, Tennessee. The plant will go from a seven day a week around the clock schedule to a five day work week and three shift schedule. The scheduling changes will take effect on July 6. Meanwhile, the company plans to cut additional workers through buyouts at a plant in Akron, Ohio. Roughly 120 workers have accepted or are expected to accept the buyout offer at that plant. The company is seeking to slash its worldwide workforce by 5000 this year. The company has already cut 3,800 jobs in its first quarter.