While the overall health of the automobile industry has markedly improved in the last three years, with several manufacturers showing record U.S. sales, the companies are all looking to contain their mounting future costs and deal with an aging workforce.
With that in mind, Toyota Motor Corp. announced last week that it would be offering early retirement incentives to about 2,000 of its employees at its U.S.-based plants, where many of its cars and SUVs are assembled for the American market.
According to Reuters, the company says the retirement program has been created to begin to address the risks of the eventual depletion of an aging workforce. And, not coincidentally, to allow the company to circulate more new hires at lower wage rates.
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