A late Christmas present for Michelin employees.
The company and three unions have signed an agreement for an average salary increase of 5% in 2024, the French group said in a press release this Friday, February 2.
The CFDT, the CFE-CGC and SUD have agreed to validate these obligatory annual negotiations (NAO) which take into account
“the difficulties and uncertainties of the year 2023”
, specified the tire manufacturer in a press release.
In 2023, the remuneration increases were similar with +5% for agents and +4.8% for executives and employees.
“Over two years, agents (production operators and employees) have benefited from a total of 11% salary increase
,” says Michelin, which includes general increases but also seniority and advancement in its calculation.
Employees also received value sharing bonuses, amounting to 700 euros in 2023 for those earning less than 50,000 euros per year.
The manufacturer saw its sales fall at the end of last year with a 5% drop in turnover in the third quarter of 2023, due to a destocking effect in distribution and the cessation of sales in Russia , which penalize the group.
“We tried to find the best possible balance to reconcile the constraints of competitiveness and the need to recognize everyone’s efforts
,” said Michelin France’s director of social relations, Pierre Février.
The group claims a presence in 175 countries and employs 132,200 people.