Michelin Spain announces employee reductions

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Michelin Spain has announced plans to reduce the number of employees at its four Spanish plants by about 400 per year for the next three years.

Currently the company employs 9,400 people in the Spanish unit.

Reductions will be achieved through a combination of measures, says the company, including early retirement and redeployment.

"The plan is a continuation of the efforts made by Michelin Spain over the last 10 years to maintain its results, face up to the current challenges and prepare the future," the company says.

The unit is planning to shut its alloy wheel plant in Aranda in 2005, affecting 600 workers. Production will be moved to Michelin plants in Germany and France.

The rest of the cuts would be at plants in Valladolid (which specializes in agricultural tires) and Lasarte.

The company is working with local trade unions concerning the changes in production. Once an agreement has been reached, it will be submitted for governmental approval as required under Spanish law.

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