Sophie Binet is worried. In her view, the economic future looks particularly bleak. “We’re at the start of a violent industrial bloodletting”, warns the General Secretary of the French Association of Industrialists. CGTin an interview with La Tribune Dimancheafter the redundancy plans at Michelin and Auchan. On November 5, the French tire giant announced the closure of its Cholet and Vannes sites, which employ a total of 1,254 people, before 2026.
“It is estimated that over 150,000 jobs will be lost, probably more”, according to the head of the trade union federation, who predicts a “domino effect” on the subcontractors of the “major principals”.
Binet denounces rising margins
According to Sophie Binetthe “bloodletting” will affect “all sectors”, and is “always due to the same corporate strategy”. In other words, “always increase margins”, on the one hand, and “distribute ever more profits to shareholders”, on the other. In Michelin’s case, the group is “closing sites to finance the cost of capital”, after “record dividend payments”, according to the head of the trade union federation.
According to Sophie Binet, the CGT has drawn up a list of redundancy plans “approaching 200”. It is therefore calling for a “real industrial policy”, and for a “company not to be able to receive (state) aid if the opinion of staff representatives is unfavorable”.
For the time being, the CGT is asking Michelin for a “moratorium to avoid redundancies, to avoid these tragedies and preserve our industrial tool and our qualifications”.