A chastened French President Emmanuel Macron surrendered Monday to the demands of protesters who have shut down much of the country over the past month, offering wage hikes and tax cuts starting next year while signaling a retreat from his greater plan to overhaul France’s heavily regulated economy and generous social welfare system.

Addressing the nation on television after weeks of seclusion, Mr. Macron called the protesters’ grievances “deep and in many ways legitimate” and asked businesses to help quell their anger.

“I would ask all employers who can, pay an end-of-year bonus to their employees,” said Mr. Macron, who just 19 months ago won an overwhelming election victory that handed him a massive mandate in the national legislature as well.

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