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 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.