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    ML   FR0000121261

MICHELIN (CGDE)

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Real-time Quote. Real-time Euronext Paris - 01/24 11:35:17 am
145.15 EUR   -3.17%
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Michelin to cut French headcount by net amount of around 300 posts

12/01/2021 | 05:13am EST
FILE PHOTO: The logo of French tyre maker Michelin is seen on a Formula E racing car in Rome, Italy

PARIS (Reuters) - Tyre maker Michelin is planning to scrap 614 jobs next year, a company spokeswoman told Reuters on Wednesday, adding that the bulk of the cuts will be made at the company's French headquarter in Clermont-Ferrand.

The cuts will be part of a larger plan aimed at increasing efficiency announced in January, the spokeswoman said. She added that at the same time, 322 new roles will be created in France next year.

French news agency AFP first reported about the cuts, citing an internal document sent to labour unions.

(Reporting by Blandine Henault; Writing by Tassilo Hummel; Editing by Sudip Kar-Gupta)


ę Reuters 2021
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Analyst Recommendations on MICHELIN (CGDE)
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Financials
Sales 2021 23 258 M 26 360 M 26 360 M
Net income 2021 1 921 M 2 177 M 2 177 M
Net Debt 2021 2 938 M 3 330 M 3 330 M
P/E ratio 2021 13,9x
Yield 2021 3,19%
Capitalization 25 914 M 29 317 M 29 370 M
EV / Sales 2021 1,24x
EV / Sales 2022 1,13x
Nbr of Employees 117 540
Free-Float -
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Technical analysis trends MICHELIN (CGDE)
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 149,90 €
Average target price 159,11 €
Spread / Average Target 6,14%
EPS Revisions
Managers and Directors
Florent Menegaux Chief Executive Officer
Yves Chapot Chief Financial Officer & General Manager
Barbara Marguerite Dalibard Chairman-Supervisory Board
Eric Philippe Vinesse Executive Vice President-Research & Development
Jean-Pierre Duprieu Member-Supervisory Board
Sector and Competitors