In this Dec. 17, 2009 photo, Honda Motor Co.'s Insight is displayed at the Honda headquarters in Tokyo, Japan. The Insight, the cheapest gas-electric hybrid on market, ranked in Monday, May 11, 2009, as the top-selling vehicle in Japan _ the first time a hybrid clinched that spot. (AP Photo/Katsumi Kasahara)
LINCOLN, 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.
Information compiled by AP from: The Birmingham News,
(Copyright 2009 by The Associated Press. All Rights Reserved.)