Toyota Pledges $250m For NUMMI Closure
A Toyota press release [via Marketwatch] reads:
Toyota Motor North America, Inc. (TMA) today announced that Toyota has committed $250 million to its contracted manufacturer New United Motor Manufacturing, Inc. (NUMMI) to fund transition support for NUMMI’s salaried and hourly team members. Toyota’s financial support is enabling NUMMI to offer bonuses to salaried and hourly team members who continue to produce quality vehicles for Toyota through April 1, 2010, when Toyota’s production contract with NUMMI will end. This funding is subject to ongoing negotiations between NUMMI and the United Auto Workers with respect to those hourly team members represented by the union.
[Hat Tip: PickupMan]
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