Nissan to offer employee buyouts at two of its Tennessee plants
Nissan Motor Co, Ltd will offer employee buyouts of up to $125,000 at two plants in Tennessee
Nissan Motor Co, Ltd will offer employee buyouts of up to $125,000 at two plants in Tennessee to cut costs as the company’s sales continue to slump in truck production. Offered to technicians and salaried workers at the vehicle assembly plant in Smyrna and a power train assembly plant in Decherd, the buyout plan could affect the 6,600 employees at the two plants. Nissan is providing lump sum payments of $100,000 to $125,000 depending on length of service, plus medical and car purchase benefits to workers who take buyouts in fiscal 2008.
"The marketplace is changing and Nissan's North American manufacturing operations must change with it to remain competitive," said Bill Krueger, senior vice president for manufacturing, purchasing, supply chain management and total customer satisfaction in the Americas.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey