Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Calais: a no-man's land for migrants

Read more

MEDIAWATCH

Poland protests for right to abort

Read more

THE DEBATE

Poland's existential struggle: Abortion debate spurs protests over right-wing shift

Read more

THE INTERVIEW

'Equatorial Guinea's attempted coup began in France,' President Obiang tells FRANCE 24

Read more

ENCORE!

Film show: '3 Billboards', 'In The Fade' and 'Downsizing'

Read more

FOCUS

Why Hong Kong is Asia's electronic garbage dump

Read more

THE INTERVIEW

IOM chief: 'Migrants are the quintessential agents of development'

Read more

EYE ON AFRICA

Nigerian army releases 244 Boko Haram suspects

Read more

BUSINESS DAILY

Bitcoin takes a tumble over regulation fears

Read more

Business

Michelin to shed 1,000 jobs in the US

Latest update : 2009-04-14

The US subsidiary of French tyre manufacturer Michelin has said it will shut a factory in Alabama by October 31, leaving 1,000 employees without a job. Production will be transferred to two other sites in the United States.

AFP - The US subsidiary of French tire maker Michelin said Monday it will shut a US plant in Alabama, where it employs 1,000 people, due to an "unprecedented" slump in demand.

Michelin North America said the closure of the plant in Opelika, Alabama, by October 31 was part of a restructuring plan for its manufacturing operations "in response to the unprecedented drop in market demand."

"The decision comes in the wake of the continuing economic crisis as consumers are driving fewer miles, purchasing fewer vehicles and delaying tire replacement purchases," the company said in a statement.

The Opelika plant produces passenger car tires under brands BFGoodrich and Uniroyal.

The company said it would provide separation pay and other benefits to the laid-off workers.

Michelin, like many other auto equipment suppliers, is reeling from an auto sales plunge amid prolonged recession that has pushed automakers General Motors and Chrysler into government aid to prevent their collapse.

Date created : 2009-04-14

COMMENT(S)