March 3, 2014 / 4:24 PM / 5 years ago

Michelin to cut 500 jobs at Canadian plant

French tyremaker Michelin's flag with a Bibendum, the Michelin Man mascot, is pictured in front of the company's headquarters in Clermont Ferrand, central France, July 10, 2013. REUTERS/Regis Duvignau

PARIS (Reuters) - French tyremaker Michelin (MICP.PA) said on Monday it would gradually reduce production at a Canadian plant by mid-2015, cutting about 500 jobs and booking a provision of C$87 million ($78.52 million) in the first half of this year.

The affected employees at the Pictou County plant, in Nova Scotia, will be able to transfer to other positions within the group or take early retirement, Michelin said in a statement. By July 2015, staff at the plant will have nearly halved to 500. ($1 = 1.1080 Canadian dollars)

Reporting by Natalie Huet; Editing by Leila Abboud

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