Nissan offers buyouts to Tennessee plant workers

Thursday, July 31, 2008 at 1:07am
Due to slumping truck sales, Nissan North America is cutting its truck night shift.

Citing slumping truck sales, Nissan North America is offering buyouts to employees at its Smyrna and Decherd plants, which employ a combined 6,600 people. The auto manufacturer also is eliminating its truck night shift on Aug. 11.

“The marketplace is changing and Nissan’s North American manufacturing operations must change with it to remain competitive,” said Senior Vice President Bill Krueger.

Officials said they are offering workers lump-sum payments of $100,000 or $125,000, depending on their tenure with the company. The package also includes medical and car buying benefits.

Nissan spokesman Fred Standish told the Associated Press the company has 1,200 more workers than it needs in Smyrna and Decherd, but will not resort to layoffs if it falls short of that target.

The buyout program will span three years, with benefits being trimmed at the end of an initial sign-up period Sept. 12. The company wrapped up a similar plan last year, which eliminated almost 800 positions.

Filed under: City Business
By: Time for Truth on 12/31/69 at 6:00

I remember people being disappointed when we didn't get the Titan/Armada plant. They are probably really having issues now, some of that business will likely head to the smaller trucks made here.

By: Time for Truth on 12/31/69 at 6:00

Isn't that a picture of a Titan? They are made in Mississippi or Alabama not here.

By: NewYorker1 on 12/31/69 at 6:00

I hate to see people get laid off, but these types of jobs never last. I just hope these people were smart and saved their money and lived way below their income. A fifty or sixty thousand dollar a year job is not a lot of money. I wish folks would realize that. If you are making fifty thousand a year, your lifestyle should be based on a thirty thousand dollar per year salary or less. My lifestyle is based on 50% of my income, I save the other half so that when the economy is bad or emergencies come up, I am financially prepared.

By: VUGuy on 12/31/69 at 6:00

"A fifty or sixty thousand dollar a year job is not a lot of money."So if this isn't a lot of money, how do you expect people to live off 50% of "not a lot of money"?Sounds good on a message board....well not really.

By: NewYorker1 on 12/31/69 at 6:00

I'm not saying that people who make fifty or sixty thousand per year should live on 50% of their income. I said they should live below that income level.I said I live on 50% of MY income because I make a six figure salary and I'm single with no kids.

By: skeptic1 on 12/31/69 at 6:00

Thinking U.S. consumers saw that more fuel-efficient and/or hybrid vehicles were the trend for the future about five years ago. Auto makers tried to boster the SUV/truck market with low,low financing offers. The automakers' management teams could have used that time to retool factories for smaller cars, but they didn't. Except maybe Toyota, none of them learned anything from the gas crisis of the 1970s. Remember demise of the muscle cars. So now it is the rank and file workers who pay with their jobs...again. Remember Jimmy Carter and 15% unemployment. History does repeat itself.