Michelin Unit to Cut 2,000 Jobs
Michelin North America Inc. became the latest tire maker to tighten its belt, saying it will cut 2,000 jobs, or 7% of its total, because of weak demand.
The company’s parent, France’s Michelin Group, will take a charge of $100 million in the second half of 2001 for restructuring costs.
Michelin North America, based in Greenville, S.C., said the job cuts are expected to be made throughout its operations and are expected to occur through normal attrition and voluntary severance programs.
Michelin recently got a boost from Ford Motor Co.’s decision to recall 13 million Wilderness AT tires made by Bridgestone Corp.’s Firestone unit. But that has not been enough to offset slow demand from the makers of cars and trucks.
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