It’s curtains down for NUMMI 0
NUMMI is a joint venture between Toyota Motor Corp and GM. GM has already filed for bankruptcy and now that Toyota Motor Corp does not want to continue the partnership, NUMMI will have to close down, closing down NUMMI is not as if you down the shutters and tear down the fied assets, sell off the land and everyone goes back home. It is much more complicated than that. You have to do everything in phases and when its curtains down for an enterprise, it is not easy on the emotions. The production is cut as orders flag, and employees are laid off in pahses or batches. Then you sell the equipment, starting with the non essential equipment first.
With NUMMI, there will be 4,000 workers who will have to go home, many without any new jobs. It is a sign of our times and these people will add to the swelling number of 8.4 million jobs that have been lost since 2007 and which are still counting. The severance package could be $70,000 in some cases, which will go towards mitigating the needs of some of the laid off workers.
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