(Reuters) – French tyre maker Michelin said on Tuesday it will finalise three production sites in Germany and move its visitor centre to Poland, citing a “lack of competitiveness of our German operations for our European and export activities”. . markets”.
The company will cease operations at its plants in Karlsruhe, Trier and Homburg until the end of 2025, affecting 1,532 jobs. According to its website, the organization currently employs more than 8,000 people in Germany, Austria and Switzerland.
“This decision is linked to the growing competition of budget truck tyres,” Michelin said, adding that it would be including an approximately 425 million euro ($465.55 million) provision in its full-year results.
Michelin also announced 1,400 job cuts in the United States last month. Another German site, in Bamberg, was closed in 2019.
(1 dollar = 0. 9129 euros)
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