Michelin To Cut Up To 2,300 Jobs Over Three Years

Published On 08-Jan-2021 00:42:01By TyreDekho Team

Michelin employs more than 127,000 worldwide

Michelin To Cut Up To 2,300 Jobs Over Three Years

French tyre maker Michelin has announced that it would cut up to 2,300 jobs over the next three years as part of a new simplification and competitiveness plan in France, adding this would not involve layoffs nor plant closures. The job cuts equate to almost 2% of its global workforce.

The auto industry has already been struggling with the shift to electric vehicles from diesel and gasoline cars, and the COVID-19 pandemic added to the woes of the automaker.

"The plan is part of a broad co-construction and social dialogue approach and will rely on negotiating a three-year framework agreement that will not entail any layoffs", Michelin said in a statement.

"The plan does not rely on plant closures", it added.

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Michelin said the measures would affect up to 1,100 positions in offices and 1,200 positions in plants, stressing nearly 60% of the job reductions would be based on voluntary early retirement schemes.

The company, which employs more than 127,000 worldwide, also said it remained committed to locating "high value-added businesses in France", saying its "ambitious expansion strategy in hydrogen solutions" was an illustration of this.

Source: Reuters

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