Employees of debt-mired GM truck and diesel engine affiliate Isuzu have rushed to take advantage of an early retirement offer, according to Reuters.
The news agency said that 4,260 staff members, 15% more than planned, had applied for a scheme announced in August.
Reuters said most who’ve signed up are expected to take early retirement at the end of this month, but Isuzu does not plan to change its earnings forecast for the year.
A bailout deal agreed by Isuzu in August with its banks and main shareholder General Motors included a promise to speed up headcount reduction by offering early retirement to 3,700 workers in the year to March, Reuters said.
According to Reuters, the targeted number of employees was reached on the first day the scheme was offered, September 24, and 4,260 had signed up by September 28, the closing day.