French tyremaker Michelin is to shed nearly 500 jobs at its historic factory at Clermont-Ferrand, central France, reports RFI.
The company says that the redundancies will not be compulsory and that it will invest millions of euros in restructuring the site.
Michelin announced Tuesday that 494 jobs would have to go at Clermont-Ferrand, the factory where the business was born in 1889.
More than 12,000 people currently work there.
The departures, including 330 from the heavy goods vehicle retreading department, will be voluntary, it said, and it has set aside 55 million euros for their cost.
Another 164 jobs are to be shed in engineering.