* To cut 1,093 jobs on voluntary basis
* To invest 100 million euros at research site.
* To hire 500 people a year over next 3 years
* Stock down 2.9 percent in mid-morning trade
(Adds detail, background)
PARIS, June 17 (Reuters) - French tyre maker Michelin announced on Wednesday a plan to cut 1,093 jobs on a voluntary basis as part of a restructuring of its facilities as it battles with falling demand from carmakers.
Michelin added it would also invest more than 100 million euros ($139 million) at its Clermont-Ferrand research and development centre and hire around 500 people a year over the next three years.
Michelin's rival Continental, which is also struggling with a sharp drop in orders from the auto industry, has already announced the closure of plants in France and Germany, resulting in the layoff of hundreds of workers.
Earlier this year, U.S. rival Goodyear also said it planned to cut 5,000 jobs worldwide this year.
The company's 2008 annual report said the Michelin group had 117,565 employees.
Michelin said on Wednesday that it remained committed to maintaining core businesses in France and added it would carry out its restructuring without any layoffs.
In April, Michelin reported a 14 percent fall in first quarter sales but said it was on track to meet its full-year goal of achieving positive free cash flow.
Michelin shares were down 2.9 percent at 41.71 euros in mid-morning trade, underperforming a 0.8 percent fall in France's benchmark CAC-40 index and a 1.2 percent decline in the DJ Stoxx European automotive sector.
Since the start of 2009, Michelin shares have risen around 11 percent compared with an 8 percent gain in the European auto sector. The shares fell 52 percent last year. ($1=.7200 Euro) (Reporting by Sudip Kar-Gupta, editing by Will Waterman)