Around here, we’re familiar with the concept of employee buyouts. The Big 3 automakers, and major suppliers, often give their veteran employees a chance to retire early, as part of efforts to reduce the work force.
Now, Toyota Motor Sales has offered buyout packages to more than 600 of its veteran workers, including some high-ranking officials.
Toyota says it is not trying to reduce the size of its workforce. The company calls it a bonus opportunity for loyal employees, and says it will replace most of the employees who accept the offer.
That may be true. Most likely, the company is trying to churn its work force and create more opportunities for younger workers.