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home / news releases / MGDDF - Michelin moves to save jobs in France paring layoff projections - Reuters

MGDDF - Michelin moves to save jobs in France paring layoff projections - Reuters

Compagnie Generale des Etablissements Michelin

French tire manufacturer Michelin ( OTCPK:MGDDF ) will not cut quite as many jobs as previously anticipated, according to Reuters.

The company headquartered in the Auvergne-Rhône-Alpes region had previously expected to reduce jobs in its home nation by 2,300. However, to “safeguard production,” these cuts are being scaled back. Headcount reductions are expected to top out at 1,600 jobs at present with only 600 due to workers in industrial segments due for redundancy.

The company told Reuters it expects to create 830 new jobs in France over a three-year span to help mitigate overall job losses.

Read more on Morgan Stanley’s move to reduce its global workforce by 2% .

For further details see:

Michelin moves to save jobs in France, paring layoff projections - Reuters
Stock Information
Company Name: Compagnie Generale des Etablissements Michelin
Stock Symbol: MGDDF
Market: OTC
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