Nissan North America on Wednesday announced it is offering what it calls a Voluntary Transition Program (VTP) to its blue and white collar workers at assembly plants in Smyrna and Dechard, Tennessee. The fancy name amounts to an admittedly generous lump sum of between $100,000 and $125,000, depending on seniority, along with medical and car purchase benefits, for employees to leave the job.
“We feel this program is a good opportunity for employees wanting to transition to another phase in life,†Nissan North America’s VP of Manufacturing, Purchasing, Supply Chain Management and Total Customer Satisfaction, Bill Krueger, said in a press release.
The Japanese automaker launched the program as gas prices lower demand for its SUVs and trucks. As of August 11, the Smyrna plant’s truck-making night shift will be eliminated.
Employees will have the choice of taking advantage of the program this fiscal year, 2009, or 2010. Employees have until September 12 to leave during the 2008 fiscal year, and choosing to leave in 2009 and 2010 will reduce the lump sump accordingly, although it is not know by how much.
The Smyrna plant employs 5,500 employees, while the Decherd engine and transmission facility has a workforce of 1,100. It is not known how many employees Nissan hopes to shed with its newest plan.
