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Michelin Factory Closures in France

Michelin to close French tire factories, resulting in significant job losses.

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French

France

Labour MarketFranceJob CutsRestructuringEconomic DownturnFactory ClosureCompany Downsizing

MichelinAfpImpériales WheelsDumarey Powerglide

Florent Menegaux

What support will be provided to the affected employees?: Affected employees will receive support through job placement assistance, both within and outside Michelin, as well as early retirement options. The company also promises to create at least as many jobs as those lost in the affected regions.
How many job losses will result from the factory closures?: The closures are part of a larger restructuring, with Michelin having already closed five other factories in France over the past two decades. This is in addition to 2,300 job cuts announced in 2021, leaving the company with 18,000 employees in France.
Why is Michelin closing its factories in Cholet and Vannes?: Michelin will close its tire factories in Cholet and Vannes, resulting in the loss of 1254 jobs. The decision is attributed to a significant decline in truck and van tire sales, worsened by a slowing new vehicle market and Asian competition.
What are the main reasons given by Michelin for the closures?: Michelin CEO Florent Menegaux stated that the market downturn and a decline in European competitiveness are the primary reasons for the closures. He also mentioned plans to close two more factories in Germany by 2025.
What is Michelin's plan to mitigate the impact on the affected regions?: Michelin's plan to support affected employees and regions includes job creation efforts, mirroring successful initiatives at other previously closed sites, like La-Roche-sur-Yon and Joué-lès-Tours.

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