Michelin Plans Up to 1,500 Job Cuts in France Over Three Years
Michelin announced on Thursday a plan to adjust its workforce in France, aiming for up to 1,500 job cuts over three years, based solely on voluntary departures. This move is in response to an unstable economic environment and production costs deemed too high.
A Plan Without Forced Departures, Mainly in Support Functions
Michelin is considering a workforce reduction potentially affecting 1,500 positions spread over three years. Two-thirds of these would involve support functions (administration) and one-third the industry. The group specifies that this project will proceed 'without any forced departures' and is based exclusively on voluntary participation.
A Three-Year Support Plan and Social Negotiations
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The group will initiate negotiations for a Management of Employment and Career Paths (GEPP) agreement, supplemented by Collective Conventional Breakups (RCC). The scheme will offer personalized paths for internal or external mobility, retraining, and training towards future-oriented professions, with individual support for each employee involved. Michelin justifies this reorganization by the French economic and regulatory context: high production costs (labor, energy) and one of the highest tax burdens among industrialized countries, in a global environment marked by increased competition and macroeconomic tensions.
Michelin employs nearly 17,000 people in France and plans to continue recruiting. The group has its corporate headquarters, global R&D center, and 13 industrial sites in France.
SectorAutomobile et mobilité›Équipementiers automobiles
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 12 687 millions d'euros
Quarterly revenue: 12 687 millions d'euros
Revenue growth: -5,9 %
EBITDA: 2 155 millions d'euros
EBITDA margin: 19,1 %
Net income: 761 millions d'euros
Free cash flow: 282 millions d'euros
4 547 millions d'euros
Guidance from the release
Le Groupe s'appuie sur la force de la marque MICHELIN, sa puissance d'innovation, la qualité de ses produits & services et l'engagement de ses équipes
Risks mentioned
Effet de change particulièrement défavorable, pesant pour -3,1 % sur le chiffre d'affaires
Marchés Première monte encore déprimés, notamment aux Amériques pour le Transport
Marché de la première monte Agricole au plus bas depuis 10 ans
Opportunities identified
Succès des nouvelles gammes MICHELIN Primacy 5 Energy et Pilot Sport 5 Energy
Volumes de la marque MICHELIN en hausse de 5 % au Remplacement
Trois acquisitions structurantes finalisées en Polymer Composite Solutions
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
