Michelin: to close Roche-sur-Yon site
(CercleFinance.com) - Michelin has announced its intention to close the La Roche-sur-Yon site by the end of 2020, while implementing a major initiative to support its employees, as well as an ambitious initiative to transform the site.
The tyre maker will propose that the social partners invoved start negotiations of an agreement on a support plan for employees favouring voluntary mobility as soon as possible in order to avoid forced departures.
To finance the operation of this project to close its Vendée site, the Clermont based group will record a provision of approximately 120 million euros in non-recurrent costs in its consolidated financial statements at 31 December 2019.
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