Both plants have been facing severe economic difficulties for several years. This decision has been made as a last resort, once all alternative solutions and scenarios have been analyzed and evaluated. Acutely aware of the consequences of its decision, the Group is committing to mobilizing all available resources to individually support the 1, affected employees and the two communities impacted by these closures.
Michelin group will record a provision of approximately million euros in its consolidated financial results for the year At this time, Michelin has made the deliberate decision to halt production at both plants through November 11 to give management and the unions time to propose collective and individual discussions with employees.
The objective is to set up an employee support system providing immediate assistance following the announcement. A joint committee to monitor the support plan will be negotiated to enable the unions and management to jointly ensure that the plan is running smoothly for each of the affected employees.
In particular: with respect to people, sought-after industry know-how, a large majority of production operators, often with strong ties to their region, with few employees nearing the end of their careers. And, with respect to the communities, rather dynamic labor markets.
Michelin Development will analyze opportunities for future manufacturing or service-based operations, in collaboration with local officials and local economic development partners. Revitalization actions will aim to develop activities that bear future-oriented jobs for the benefit of the impacted communities, mainly in manufacturing and manufacturing-based services.
