Michelin to Reduce Costs by Targeted Retiree Replacement

(Akron/Tire Review) Groupe Michelin Managing General Partner Edouard Michelin, on a visit to the US, said the company will pursue cost reduction gains by replacing only a portion of workers who will retire in the next few years. This includes Michelin operations in the U.S. and Europe. AFX News reported that Michelin, who visited his company’s North American operations, said: “There is no magic formula” for the reductions, and that decisions on whether to replace certain retiring workers would be made on a case-by-case basis.