Toyota Offers Buyouts to U.S. White-collar Workers

Feb. 2, 2011
Company said the 'voluntary program is part of an ongoing process of evaluating our operations and aligning them with our future growth'

Toyota on Feb. 1 said it has offered a buyout package to white-collar workers in the United States. "This voluntary program is part of an ongoing process of evaluating our operations and aligning them with our future growth, "Toyota said.

"It will allow for further restructuring and enable us to expand areas of responsibility and increase efficiency."

Toyota said it did not have a target for how many positions it was trying to eliminate with the program, nor how many workers were eligible. The company did not immediately return a request for comment.

Eligible managers at Toyota's automotive operations group and customer service office at its U.S. headquarters in California will be offered $20,000, two weeks salary for every year worked plus 10 weeks additional severance.

The buyouts come as Toyota works to recover from a painful 2010 which saw its once-stellar reputation tarnished by a series of mass recalls for deadly defects.

The automaker has instigated major changes to its U.S. operations in the wake of the scandal, including giving local executives more control.

Copyright Agence France-Presse, 2011

Popular Sponsored Recommendations

SEC Cybersecurity Rules: What’s Your Regulatory Risk?

Feb. 27, 2024
Join us for an insightful exploration of the evolving cyber threat landscape, SEC rule implications, and collaborative strategies to secure critical IT and OT networks in the ...

Get ready for CLOUD 9: Nine reasons to move to the Microsoft Cloud

Jan. 24, 2024
With pioneering AI (Copilot, built on OpenAI) and best-in-class low code development tools (Power Platform), the Microsoft Cloud has no equal. Learn a whole lot more in in “Moving...

S&OP Optimization: Data-driven Strategies to Achieve Sustainable Profitability

Feb. 6, 2024
Through collaborative S&OP, manufacturers can balance demand and supply effectively, optimize resources, and capitalize on emerging market opportunities. Learn how to maximize...

Lean Manufacturing in the Age of the Industrial Internet

Oct. 24, 2023
Read how advanced MES capabilities can help you improve your labor utilization, reduce WIP, and optimize your production. Download the white paper today.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!