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Michelin Cuts 1,000 Jobs As Tyre Demand Deflates

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http://business.timesonline.co.uk/tol/busi...icle6518812.ece

Michelin announced this morning it is to cut nearly 1,100 jobs after a collapse in global demand for tyres.

The company was scheduled to meet unions today. Tyre companies in France have previously been targetted in "bossnappings", where disgruntled workers kidnap their managers.

Michelin’s peers Continental, Goodyear-Dunlop and Pirelli have already cut jobs after a dramatic decline in demand for tyres, which has coincided with the collapse in new car sales.

Michelin has already been through one restructuring effort in recent years, which involved factory closures.

The company said it would shut down a factory in northern France. Continental has already announced the closure of a factory near Paris with the loss of 1,120 jobs, while Goodyear Dunlop made 820 workers redundant at its plant in Amiens.

Michelin executives have previously been held against their will, while counterparts at Continental, which is German-owned, escaped a similar attempt by escaping through a side door during a mock execution.

Michelin said that it would be able to avoid forced redundancies, with around 500 being offered early retirement and 600 finding benefitting from "internal placement opportunities".

What are "internal placement opportunities"???

More green shoots coming.

Tyre demand appears to have collapsed.

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Tyres are very good for growing potatoes in...start with one then build up to five on top of each other, top up with soil as the shoots appear...they can pay for themselves five fold. ;)

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Won't the green shoots hit the skids though?

Not if its a goodyear.

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Guest sillybear2
maybe if they all lived in flats their overheads wouldn't be so inflated.

1000 jobs is just a minor blow out.

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Guest redwine

Michelin made 357 million euros profit in 2008 the french state gave them 4 million euros "aid"

as for over a 1000 workers being relocated i don't believe a word but this isn't going to happen until 2010

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People not replacing tyres.

Takes me back to the old days; tyres as bald as an egg; canvas showing through the tyre walls on all four wheels; the odd pink bubble of inner tube peeping through; long strips of casing hanging off.

If you collided with a pedestrian he was whipped to death before he hit the tarmac....

Real motoring...

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i think the lack in demand is from the reduction in cars made.

i just brought a new set at the beginning of the year. made me feel really posh. yeah, i dont spend money easily.

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i think the lack in demand is from the reduction in cars made.

i just brought a new set at the beginning of the year. made me feel really posh. yeah, i dont spend money easily.

It just shows how many cars where being bought on easy credit.

Just how much over capacity is there in the global economy.

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People not replacing tyres.

Takes me back to the old days; tyres as bald as an egg; canvas showing through the tyre walls on all four wheels; the odd pink bubble of inner tube peeping through; long strips of casing hanging off.

If you collided with a pedestrian he was whipped to death before he hit the tarmac....

Real motoring...

Its easier to get away with driving with bald tyres these days as its one thing the tax disc / mot / insurance checking cameras cant check, not like the old days when you used to get pulled over by a real copper.

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Guest redwine

tyre makers such as Michelin Goodyear and company are facing more competition from cheap tyre makers selling them on internet you buy them and they deliver them to a garage in your area that will put them on for you for a small fee they tend to be unknown brands but they are cheap

people do not want to pay Michelins high prices anymore

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