Michelin Looking to Trim Costs

April 30, 2001
Michelin North America has announced it is proposing a cost-reduction plan that would cut annual operating costs by $125 million. Senior executives outlined the objectives, which they said would be detailed in an action plan to be released in July. “The automotive and trucking industries have had some good years recently and we have shared in the success,” said Jim Micali, president of Greenville,
Michelin North America has announced it is proposing a cost-reduction plan that would cut annual operating costs by $125 million. Senior executives outlined the objectives, which they said would be detailed in an action plan to be released in July.

“The automotive and trucking industries have had some good years recently and we have shared in the success,” said Jim Micali, president of Greenville, SC-based Michelin North America. “But we also know that our cost structure needs to be improved so we can weather difficult market conditions and prosper during good times.”

The company said it wants to avoid speculation prior to the finalization of the action plan but said it appears likely that personnel reductions will be required. The company noted that if layoffs are necessary, it will make every effort to achieve them through normal attrition.

About the Author

Tim Parry

Sponsored Recommendations

Tackling the Tech Shortage: Lessons in Recruiting Talent and Reducing Turnover

Discover innovative strategies for recruiting and retaining tech talent in the trucking industry at our April 16th webinar, where experts will share insights on competitive pay...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

How Electric Vehicles Help You Prolong the Life of Your Fleet

Before adopting electric vehicles for commercial/government fleets, prioritize cost inquiries. Maintenance is essential; understand the upkeep of EV fleets. Here’s what you need...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!