No surprise here. Manufacturing is being hit hard.
Honda offers buyouts to workers in LincolnLINCOLN, Ala. (AP) - Employees at Honda's vehicle assembly plant in Lincoln have been offered a buyout plan by the Japanese automaker in an effort to cut the 4,500-person work force by 275 positions.
The proposal allows an employee to receive one year's salary and $1,000 for every year worked at the plant plus an additional $17,000 payment.
The buyout incentive is in response to sagging sales throughout the automaking industry. In March the automaker announced other belt-tightening measures including cuts in production to lower inventories at North American plants.
Honda set a June 5 deadline for workers to sign up.
Plant spokesman Mark Morrison said the buyout offer was a tough business decision but said sign-up was going well.
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