Michelin, the world’s largest tyre company, is planning to cut almost 10 per cent of its expensive French workforce but sought to soften the blow with a pledge to invest €100m ($140m) at its main research centre.

Remarkably, Michelin’s plan raised little political outcry on Wednesday, though other French factory closures and job cuts by rivals, such as Continental and Goodyear, have sparked widespread anger and violent protests.