The French tyre maker Michelin SA announced Wednesday a plan to cut 1,093 jobs over a three-year period, beginning in 2010, reflecting the toll the economic crisis is having on the automobile industry and its suppliers.
In addition to these 1,093 jobs, Michelin also intends to negotiate 1,800 voluntary leaves over the next three years. The company employs over 30,000 people in France.
On a more positive note, the tyremaker also announced that it would invest over 100 million euros ($139 million) in its research and development plant in Clermont-Ferrand, as well as hire approximately 500 people over the coming three years.
Michelin rival Continental earlier announced the closure of its factory in Clairoix, north of Paris, with the loss of 1,120 jobs, while Goodyear Dunlop has laid off 820 workers at its Amiens plant in the north.
Image by manel under Creative Commons.
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