U.S. markets close in 3 hours 38 minutes
  • S&P 500

    3,669.08
    -24.15 (-0.65%)
     
  • Dow 30

    29,374.22
    -216.19 (-0.73%)
     
  • Nasdaq

    10,855.55
    -12.38 (-0.11%)
     
  • Russell 2000

    1,667.58
    -12.01 (-0.71%)
     
  • Crude Oil

    77.65
    -1.09 (-1.38%)
     
  • Gold

    1,641.20
    -14.40 (-0.87%)
     
  • Silver

    18.70
    -0.20 (-1.08%)
     
  • EUR/USD

    0.9624
    -0.0064 (-0.66%)
     
  • 10-Yr Bond

    3.8290
    +0.1320 (+3.57%)
     
  • GBP/USD

    1.0666
    -0.0191 (-1.76%)
     
  • USD/JPY

    144.5630
    +1.2430 (+0.87%)
     
  • BTC-USD

    19,098.20
    +12.63 (+0.07%)
     
  • CMC Crypto 200

    438.26
    +5.16 (+1.19%)
     
  • FTSE 100

    7,020.95
    +2.35 (+0.03%)
     
  • Nikkei 225

    26,431.55
    -722.28 (-2.66%)
     

Michelin to cut French headcount by net amount of around 300 posts

·1 min read
FILE PHOTO: The logo of French tyre maker Michelin is seen on a Formula E racing car in Rome, Italy

PARIS (Reuters) - Tyre maker Michelin is planning to scrap 614 jobs next year, a company spokeswoman told Reuters on Wednesday, adding that the bulk of the cuts will be made at the company's French headquarter in Clermont-Ferrand.

The cuts will be part of a larger plan aimed at increasing efficiency announced in January, the spokeswoman said. She added that at the same time, 322 new roles will be created in France next year.

French news agency AFP first reported about the cuts, citing an internal document sent to labour unions.

(Reporting by Blandine Henault; Writing by Tassilo Hummel; Editing by Sudip Kar-Gupta)