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Monday, November 3, 2008

Crunch at Mercedes Benz SUV Plant

Mercedes-Benz Credit Crunch?

Mercedes-Benz recently announced that it will offer buyout packages to workers at its assembly Tuscaloosa, Alabama assembly plant. The buyouts are to come before production cuts at the factory.

The Alabama plant produces the Mercedes-Benz R-class, M-class, and GL-class SUVs. Although production will be cut, the plant will remain open as Daimler AG looks to close four Mercedes plants in Germany.

The buyouts will be offered to all of the plant's employees, but the number of employees allowed to accept the packages is limited. The employees have until November 10 to decide if they are going to take the buyout or not. The buyout packages include a $45,000 lump-sum payment plus an additional $1000 for each year of service. This is the first time buyouts have been offered to the employees since the plant opened in 1997.

Source: Automotive News