French tire giant Michelin announced on the 28th that it will cut 1,500 jobs in France over the next three years to cope with high energy costs and heavy tax burdens. According to the company's HR department, the cuts will be voluntary rather than forced layoffs, with two-thirds of the affected positions in administrative departments and the remainder in production lines. Michelin closed two French factories in 2024, highlighting the difficult business environment. Q1 sales fell 5.4% to 6.2 billion euros, making cost reduction an urgent priority.

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  • Source: CNA (Central News Agency)
  • Category: corporate news