40% of Michelin Workforce in High Cost Countries to Leave between 2007 and 2012

Michelin has released a “pyramid of age” for its French workforce. The company employs 22,000 workers (equivalent full time) in its home market, of which some 12,000 are engaged in production. Approximately 1,0000 will retire every year for the next decade. Taking into account a natural attrition of two per cent per annum, 1,500 French workers will leave Michelin each year. This equates to 30 per cent of the 5,000 employees that will leave the group per annum in high cost countries. In total around 30,000 people are anticipated to leave the Michelin Group in the six years between 2007 and 2012, some 40 per cent of the company’s tyre workforce in high cost countries.