The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Rubber And Plastic Products 22.11 - Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres
1,900 jobs Number of planned job losses
Announcement Date
22 June 2017
Employment effect (start)
1 September 2017
Foreseen end date
1 January 2021
Description
On Thursday 22 June, Michelin, the French tyres manufacturer, detailed the restructuring plan that will result in 1,500 jobs cuts in France and 450 in the US by 2021.
The job reductions is a result of an internal reorganisation of the company's regional divisions. The company specified that in France only 3,500 of the 5,000 workers expected to leave or retire will be replaced. Michelin will cuts almost 1,000 jobs at its Clermont-Ferrand headquarter. In the US, the company said it would replace only 1,050 of the 1,500 US workers expected to leave or retire.
The group employs 111,700 employees worldwide, 11,000 of which in Clermont-Ferrand.
Sources
23 June 2017: Rubbernews
22 June 2017: The New York Times
Citation
Eurofound (2017), Michelin, Internal restructuring in World, factsheet number 91368, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91368.
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