On Wednesday, in a statement French tire maker Michelin stated it plans on reducing its workforce by up to 2,300 jobs over the a period of three years as part of a restructuring process that is aimed at simplifying and making it operations more competitiveness in France.

“The plan is part of a broad co-construction and social dialogue approach and will rely on negotiating a three-year framework agreement that will not entail any layoffs”, said Michelin in a statement.

It went on to add, “The plan does not rely on plant closures”.

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