Looking to trim its costs, Mazda offered voluntary buyouts to all 701 of its U.S. employees in March as part part of a plan to restructure its North American operations. The offers included a lump-sum separation payment based on length of service in addition to help finding a new job.
Now, Mazda has announced that 107 workers have decided to accept the buyouts and will be released on July 2. The automaker is waiting to complete its restructuring process before determining whether involuntary layoffs are needed, according to an Automotive News report.
As part of its effort to return to profitability, Mazda recently sold off nearly $2 billion in new stock to build up much-needed capital for its carmaking operations. The automaker has also announced that it will drop out of the commercial vehicle segment in order to focus on more lucrative passenger cars, and is also looking for a partner automaker to share research & development costs on future models.