LONDON—Tire companies are finding it increasingly difficult to fill job vacancies at their production facilities, leading to negative impacts on operational costs and productivity, recent reports from manufacturers, suppliers and analysts suggest.
In its 2021 financial results reporting, Michelin said last year was in part "shaped" by labor shortages that impacted the manufacturing operations of both the group and its suppliers.
Michelin's specialty tires segment, for example, was "severely disrupted" by difficulties arising from labor shortages, preventing it from "fully meeting robust customer demand," the company stated in its fiscal 2021 financial results release.
And, it suggested, while government financial support may have slowed a return-to-work, "in a more structural way, these hiring difficulties (might) arise from certain COVID-related social changes that have created a new relationship to work."
The issue seems to be at its most acute in the U.S., according to Darren Wells, Goodyear's chief financial officer.