As Toyota prepares to consolidate the majority of its U.S. operations into its new headquarters in Plano, Texas, it may end up retaining as little as 30 percent of its engineering, sales, finance and corporate workforce after the move as uncertainty takes hold.
Automotive News reports the automaker is doing all it can to hold onto as many of its employees as possible with the move to Texas drawing closer with every passing day, going as far as to offer a generous package to help employees remain with the company:
- Lump-sum payment based on job level to those who follow Toyota into Plano, then remain on-board for two years after
- Rentention bonuses based on salary/tenure for those who stay until their departments move to Plano
- Full reimbursement of relocation costs for those in supervisory or management roles and above
- Real estate assistance for those selling their homes to buy one in Texas
Though it has budgeted its package for 50 percent of its U.S. workforce — the figure proposed to help make for a smooth transition while avoiding the continuity issues Nissan faced in a similar move in 2006 — a source inside Toyota stated the company would be lucky to retain 30 percent:
They would be happy to have 50 percent. It’s hard to tell [how many people will go] because nobody has been offered their jobs yet.
Toyota plans to offer new job classifications beginning in January, with the goal of realigning most of its employees under one set of guidelines. The classifications will also affect benefits and bonuses, along with how a given job is conducted and administered. Since the announcement of those changes this past summer, however, morale and productivity have fallen amid the long wait, per another inside source.
Around 4,050 employees from California, New York and Kentucky are expected to make the move to Plano by 2017.
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