Michelin to shed 1,600 jobs in European plant shake-up

[webfact]

Michelin to shed 1,600 jobs in European plant shake-up



PARIS: -- Michelin says it is closing several European sites with the loss of around 1,600 jobs as part of a major restructuring plan.

The French tyre company said in a statement that the competitive environment and the economic crisis of the past few years had lastingly affected the European tyre market.

However is to boost investment at other plants.

The truck tyre factory at Ballymena in Northern Ireland which employs 860 people is to be run down, eventually closing in 2018.

But Michelin says investment at other sites in England and Scotland will create over 100 posts.

Nearly 580 jobs are to go in Italy, 400 of them at the Fossano site which will close in 2016. Another 180 jobs are set to be lost with the closure of the Oranienburg site in Germany.

Michelin says the changes mean the company will incur a loss of 280 million euros this year.

-- (c) Copyright Euronews 2015-11-04

[Ulic]

I guess it's too hard to eliminate any jobs in France with the unions and labour laws.

[HughJass]

the EU should ban the sale of Michelin tyres in europe since they are obviously locating elsewhere

[Srikcir]

No new jobs or investment in Thailand. And Thailand loses rubber export sales.

GDP growth for 2016 for Thailand continues to have new challenges that may be beyond the hopes of the current government to solve.