Toyota Officials Hope Incentive Package Will Help Manage Attrition
GEORGETOWN, Ky. - About 20 to 30 percent of eligible employees at Toyota Motor Manufacturing Company in Georgetown are expected to opt in to its “Next Step Program,” which will offer voluntary exit incentives to workers who have been with the company for at least 22 years.
Rick Hesterberg, TMMK’s Manager of External Affairs, told Business Lexington that Toyota is not downsizing, but rather trying to manage anticipated turnover over the next two years. 1,600 Toyota employees in Kentucky are expected to qualify.
The program will offer two weeks of pay for every year of service (up to 25 years) plus an extra eight weeks of pay. Those eligible have until early January to let the company know of their interest. They will then have the option of leaving starting in February.