Toyota Motor Corp. (NYSE:TM) is offering white-collar employees working in the U.S. a buyout, with close to 629 workers eligible for the offer.
The compensation offered is $20,000 plus two weeks of pay for each year working for Toyota, plus another 10 weeks of salary on top of that.
Toyota said in a statement, "This voluntary program is part of an ongoing process of evaluating our operations and aligning them with our future growth. It will allow for further restructuring and enable us to expand areas of responsibility and increase efficiency."
The automaker had a good January, reporting increase in sales in the U.S. of 17 percent over January 2010. Auto sales of other companies operating in the U.S. were also up in January, presumably because of early tax return money, as the majority were consumer-based sales.
Commercial fleet sales were down for the month.
Toyota closed Tuesday at $83.29, gaining $1.11, or 1.35 percent.
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