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French tire maker Michelin announced it will close two factories in Germany and lay off more than 1,500 people due to rising costs and competition from cheap imported products.
The company said production will cease in 2025 at its plants in Karlsruhe and Trier, and partially at its plant in Humboldt. The customer service center in Karlsruhe will also be closed and operations will be moved to Poland.
Michelin attributed the layoffs to cheap truck tires from low-wage countries and rising production costs in Germany. The company said the recent health and geopolitical crises had pushed up operating costs, putting additional pressure on Germany’s industrial base.
The IGBCE union criticized the layoffs as wrong and accused Michelin of only pursuing profit maximization.
(Source: manilatimes Image source: freepik)
