BELVIDERE, Ill. (WTVO) — Fiat Chrysler has confirmed that it has offered voluntary separation packages to 3,900 full time, hourly workers at the Belvidere Assembly Plant.
The company says the severance is being offered to “create opportunities for those employees still on layoff.”
The company had shut down production for a two week period in January and plans to halt production for another week in February, beginning on the 17th.
According to Fiat Chrysler, the shutdowns are part of an effort to “realign production with demand.”
As part of the initial offer, employees with 25 years of seniority have been offered a maximum sum of $72,000, distributed over 29 months.
Employees with less time with the company have been offered less, based upon a scale determined by the union contract, with employees who have been with the company for a year getting the minimum, of $15,000 over 6 months.
Under the second package, an early retirement incentive, employees can take a lump sum of $60,000.
Employees have until March 11th to take advantage of the offer.
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