Calls for Inquiry into Michelin’s Use of Public Funds Amid Job Cuts
The French parliamentary group La France insoumise (LFI) has proposed an investigation into Michelin’s public funding, following the company’s announcement of plant closures by 2026, affecting 1,200 jobs. LFI questions how Michelin can simultaneously implement mass layoffs, receive public assistance, and distribute record dividends to shareholders. They highlighted extensive financial support, including tax credits and pandemic aid, while profits soared, with dividends expected to reach €1.464 billion in 2024. Prime Minister Michel Barnier acknowledged concerns regarding public money use, promising a thorough review if the inquiry is approved.