Well, it finally happened today. The Toyota assembly plant that I work at made the announcement today. We have went to a 36 hour work week. They also froze pay raises and cut out our quarterly bonuses. Also, all salaried employees took a 30% pay cut. They offered a buy-out of anyone that wanted to resign or retire. The buy-out wasfor $50,000.
They held on as long as they could, but the time has come that they had to cut into our pay. I'm still thankful that I have a job, but it doesn't look promising.
we're losing 30% of our remaining techs, no pay raises again, no 401K match, much higher insurance this year and we'll likely be rebadged to Erickson withing 14-16 months
but hey, Kathy Walker was let go, and she's getting her FULL yearly $550,000 salary until she's 65 [:@]
Toyota has followed suit with the Big 3.
