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Old 02-20-2007, 02:28 PM   #1
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Default Nissan offeres Voluntary Separation Package for Tennessee Employees

Nissan offeres Voluntary Separation Package for Tennessee Employees

Press Release:
Nissan Offers Voluntary Separation Package to Hourly Manufacturing Employees in Tennessee

Program aims to balance high productivity gains with low employee attrition

Nissan North America, Inc. (Nasdaq:NSANY) is offering a Voluntary Transition Program for its hourly production and maintenance technicians at manufacturing plants in Smyrna and Decherd, Tenn. The program includes a $45,000 lump sum payment and an additional $500 for each year of service. The program will not be offered to employees at other Nissan manufacturing locations in North America.

Productivity in Nissan’s Tennessee plants has always been high, and gains continue to outpace low employee attrition levels. Also, higher demand for passenger cars, such as the Altima sedan and soon-to-be-released Altima Coupe, combined with lower demand for trucks and sport utility vehicles results in a manufacturing mix that is less labor-intensive to build and that requires fewer assembly workers. Through this program, employment levels can be reduced in a way that benefits both the hourly employees and the company’s assembly requirements.

Because the program is offered on a voluntary basis, overall acceptance rates will depend on individual employee decisions. Employees will have until March 13 to decide whether they want to participate and, if they so choose, will resign or retire from the company by June 30.

“We will provide our hourly employees with as much information as they need to make an informed decision, and we expect around 300 will accept the program,” said Dan Gaudette, senior vice president of North American Manufacturing and Supply Chain Management. “If they choose to take advantage of this offer, we’ll do our best to help them make a smooth transition into the next phase of their lives.”

Nissan employs 5,200 hourly employees at its vehicle assembly plant in Smyrna, and 1,000 hourly employees at its powertrain assembly plant in Decherd.

In North America, Nissan's operations include automotive styling, design, engineering, consumer and corporate financing, sales and marketing, distribution and manufacturing. More information about Nissan in North America and the complete line of Nissan and Infiniti vehicles can be found online at www.NissanUSA.com and www.infiniti.com.
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Old 02-20-2007, 02:35 PM   #2
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that's a decent bit of cash for hourly workers. I wonder how much they get paid per hour now?
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Old 02-21-2007, 09:25 AM   #3
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Originally Posted by wrxskier18 View Post
that's a decent bit of cash for hourly workers. I wonder how much they get paid per hour now?
It's not that much money once you take out taxes. If you're lucky, you'll take half of it home, but then you need to find another job. I doubt many people at the Nissan plant have been around long enough to think about retirement.

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