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Article: Michelin North America to Reduce Annual Costs by $200 Million To Increase Competitiveness.
- Article from:
- PR Newswire
- Article date:
- September 10, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Company Says It Will Largely Offset Reduction of 2,000 Jobs Through Normal
Attrition and Voluntary Severance Programs
GREENVILLE, S.C., Sept. 10 /PRNewswire/ --
Faced with a downturn in tire markets and the need to increase its long-term competitiveness, Michelin North America, Inc. today announced a plan to reduce some $200 million in annual operating costs. Implementation of the plan begins immediately.
"We need to position ourselves for the future and cannot wait for the markets to improve," said Jim Micali, chairman and president of Michelin North America. "We must get leaner and increase the focus on our core business so when the ...