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Early retirement surge felt at Honda

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Honda faces a sudden transition as a high number of the company’s most-senior Ohio employees are likely to take early retirement this month, ahead of changes that will make some benefits less generous, The Columbus Dispatch reports.

The retirements are expected to lead to hundreds of job openings.

The departing employees will include many people who have been with the automaker for 25 to 30 years, a group that was among the first few rounds of hiring when Honda started building cars in Marysville in the early 1980s.

Employees interviewed for this story speculate that the total will be more than 750 workers in the state, with the potential that it will be many more.

The company, which employs 13,700 in Ohio, is confirming that “a large number of associates” are exploring their retirement options in Ohio and across North America. A spokesman declined to specify how many there are, or say whether the number is unexpectedly high.

Workers are responding to a unique overlap of circumstances, including:

For the first time, Honda is offering a lump-sum buyout of an employee’s pension, which means a retiring worker can get a check for hundreds of thousands of dollars instead of monthly payments.

 

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