Honda just sold their F1 team too, for ONE POUND... BUT!!! you had to be able to show you could campaign the team all year first.
Posted on 03/31/2009 2:54:29 PM PDT by buccaneer81
Honda offering local workers incentives to quit Other cost-cutting measures planned; 13 days of production to be cut Tuesday, March 31, 2009 5:19 PM By Dan Gearino THE COLUMBUS DISPATCH
For the first time, Honda is offering Ohio employees incentives to resign.
The move, which continues the company's tradition of avoiding layoffs, is part of a wide-ranging set of cost-saving measures announced today.
"Regardless of job title or level within our organization, each Honda associate will share the responsibility of doing what we must to remain competitive," said spokesman Ron Lietzke.
Among the other moves:
• Honda will cut 13 production days from May to July, reducing the number of vehicles made in North America by about 62,000. This production cut is different from past cuts in that employees will need to take vacation time or receive no pay for at least some of 13 cancelled work days. Previously, employees had the option to report for non-production duties.
• Employees who are already eligible to retire will be offered incentives to do so.
• Employee bonuses will be sharply reduced and perhaps eliminated, leading to a reduction in income of up to several thousand dollars for production employees.
• Managers' salaries will be cut, with top managers facing the largest reductions.
At the same time, the company has decided not to cut hourly pay for production employees.
Honda declined to say how many employees it hopes will accept the buyout offer or how much money it hopes to save. The company also declined to give details about the incentives it will give to employees who wish to resign or retire.
"It's really yet another reflection of the real challenge the industry is facing," said Ed Kim, director of industry analysis for AutoPacific, a research firm based in Tustin, Calif. "The spotlight is obviously on GM and Chrysler, but everybody is struggling right now."
He said buyouts go against Honda's corporate culture, which views employees as long-term partners. He said the decision to reduce employees in this way probably "a last resort."
Honda previously cut production of 175,000 vehicles in North America for the fiscal year that ends this month, which is about 12 percent of output for those plants.
The company has assembly plants in Marysville and East Liberty, along with an engine plant in Anna and a transmission plant in Russells Point, with a total Ohio work force of about 14,000.
Ohio ping.
If I understand Harry Reid, Nancy Pelosi and his Eminence correctly that means that Honda is not building the cars Americans want.
They’ll spin it that way, no doubt.
I bought one this year.....WOW,
Great car and yes folks they care. Thank you to the guys who built it.
I also own a Caddy....WOW, I feel like a guy who voted for “hope” on that one.
Ohio has been in Ohio only 27 years. Who knew?
Honda just sold their F1 team too, for ONE POUND... BUT!!! you had to be able to show you could campaign the team all year first.
Yikes.
we are clocking Ohio AFTER THE RIVER BURNED..!!!
( You have to have come from Ohio or live there to get THAT one..ha.)
Its too bad that GM & Chrysler could not of done the same thing.
If you want your company to survive and to keep your job, fight unionizers where ever you find them.
Where I work our union membership is down to less than 20 people from a high of about 1800 10-12 years ago. We were bought out by an overseas company, first thing they did was wipe out the union.
The company even now is doing good, we got a bonus for the first time this year
Unions first job is create inefficiency (restrictive job rules) to increase membership.
Second job is protecting the lazy and incompetent worker to maintain membership.
All of this increases cost to the employer which of course makes the employer less competitive.
Unions had there purpose and there day but their day is past. They have sown the seeds of their own destruction. I only hope that they have not destroyed us all.
Will Ohio go back to operating in MI now?
Greetings spunkets:
Perhaps we can make Michigan take Toledo back? Funny thing, in hindsight, I guess Michigan really did win the Toledo War. Michigan got the U.P., and Ohio got stuck with Toledo...
http://en.wikipedia.org/wiki/Toledo_War
Cheers,
OLA
LOL, thanks. ...Good article.
We'll let them keep Detriot.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.