French tyre group Michelin said Wednesday it would eliminate up to 2 , 300 posts in France as it reinforces activities outside its core business .
Michelin said the roughly three -year plan would not involve outright layoffs , but consist of not replacing workers as they retire and offering payouts to others who were willing to leave .
It employs around 20, 000 people in France at present .
Competition from low -cost tyre makers has hurt Michelin , which has already reduced its workforce by almost 1 , 500 since 2017 in France , Germany and the United States.
It pledged to create other jobs while focusing on higher end tyres , and those destined for agricultural , industrial or competition use .
“Michelin is not abandoning France and continues to invest massively there , ” chief executive Florent Menegaux was quoted as saying in a French -language statement .
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The company added that it would focus increasingly on sectors that included hydrogen development , 3 D printing, adhesives and plastic recycling .
By 2030, Michelin plans to earn around 30 percent of its revenues from activities other than tyre -making .
