VANCE, Ala--Mercedes told employees they can't afford to continue paying all 4,000 employees.
The company issued a only a written statement but won't confirm the details of what the luxury automobile maker calls a "voluntary separation program." If employees opt out now they'll get a $45,000 lump sum plus an additional $1,000 for every year service.
While they job hunt they'll have six months of health insurance and paid vacation for 2009. Mercedes will also effort job placement.
Employees who plan on accepting Mercedes optional buyout plan have until November 10 to do so. The last day they'll report to work will be December 16th.
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