NYCshopper
03-24-2007, 01:27 AM
Nissan says 775 U.S. factory workers take buyouts
http://news.yahoo.com/s/nm/20070323/bs_nm/nissan_buyouts_dc
http://d.yimg.com/us.yimg.com/p/afp/20070224/capt.sge.aia37.240207171717.photo00.photo.default-512x409.jpg
DETROIT (Reuters) - Nissan Motor Co. Ltd. (7201.T) said on Friday that 775 workers at two Tennessee plants had accepted voluntary buyouts starting at $45,000.
The job cuts, which followed a slump in Nissan's U.S. sales last year, represented a reduction of 12.5 percent of the 6,200 workers at the automaker's two Tennessee factories.
Nissan said 681 workers at its Smyrna, Tennessee plant and another 94 workers at its Decherd, Tennessee plant had taken the buyout offers.
The automaker had offered a $45,000 cash payment plus $500 for each year worked for employees that took the buyout.
Nissan's Smyrna assembly plant builds its Altima and Maxima sedans, the Pathfinder and Xterra sport utility vehicles and the Frontier pickup truck.
The engine plant in Decherd supplies the Smyrna factory and an assembly plant Nissan opened in Canton, Mississippi in 2003.
Workers at Nissan's Mississippi plant were not eligible for the buyout offers, announced in late February.
That plant makes the Altima, the full-sized Titan pickup, Quest minivan and two SUV models -- the Armada and the Infiniti
QX56.
Nissan announced the buyout program after sales slumped, particularly for its U.S.-built trucks and SUVs.
On a combined basis, sales for Nissan and its luxury Infiniti nameplate were down 5.3 percent in 2006, compared with an industry-wide sales decline of 2.6 percent.
Nissan's U.S. sales were up almost 5 percent in the first two months of the year driven by gains for the cars such as the Altima and Nissan's new small car, the Versa.
http://news.yahoo.com/s/nm/20070323/bs_nm/nissan_buyouts_dc
http://d.yimg.com/us.yimg.com/p/afp/20070224/capt.sge.aia37.240207171717.photo00.photo.default-512x409.jpg
DETROIT (Reuters) - Nissan Motor Co. Ltd. (7201.T) said on Friday that 775 workers at two Tennessee plants had accepted voluntary buyouts starting at $45,000.
The job cuts, which followed a slump in Nissan's U.S. sales last year, represented a reduction of 12.5 percent of the 6,200 workers at the automaker's two Tennessee factories.
Nissan said 681 workers at its Smyrna, Tennessee plant and another 94 workers at its Decherd, Tennessee plant had taken the buyout offers.
The automaker had offered a $45,000 cash payment plus $500 for each year worked for employees that took the buyout.
Nissan's Smyrna assembly plant builds its Altima and Maxima sedans, the Pathfinder and Xterra sport utility vehicles and the Frontier pickup truck.
The engine plant in Decherd supplies the Smyrna factory and an assembly plant Nissan opened in Canton, Mississippi in 2003.
Workers at Nissan's Mississippi plant were not eligible for the buyout offers, announced in late February.
That plant makes the Altima, the full-sized Titan pickup, Quest minivan and two SUV models -- the Armada and the Infiniti
QX56.
Nissan announced the buyout program after sales slumped, particularly for its U.S.-built trucks and SUVs.
On a combined basis, sales for Nissan and its luxury Infiniti nameplate were down 5.3 percent in 2006, compared with an industry-wide sales decline of 2.6 percent.
Nissan's U.S. sales were up almost 5 percent in the first two months of the year driven by gains for the cars such as the Altima and Nissan's new small car, the Versa.