Michelin's Factory Closures Ignite Nationwide Protests

Despite record profits, Michelin plans to shut down two French plants, sparking widespread worker unrest and highlighting broader industrial challenges.

Michelin announced the closure of its Cholet and Vannes plants, affecting 1,254 jobs, citing high energy costs and competition from Asia.
The closures come amid record financial results for Michelin, with projected profits of 3.4 billion euros for 2024, similar to 2022 figures.
Protests erupted in Clermont-Ferrand as employees from affected sites joined forces to voice their anger against what they see as profit-driven decisions.
The move is part of a broader trend of industrial downsizing in France, with thousands of jobs lost in the metallurgical sector since the beginning of the year.
Critics argue that the closures reflect a larger pattern of corporate focus on shareholder returns at the expense of job security.