Honda Working to Save Money

COLUMBUS, Ohio (AP) - Honda Motor Co. is doing some
belt-tightening.

It's cutting workers' pay and offering buyouts. And it's
ordering 13 non-production days at its North American plants this
summer to reduce output by 62,000 vehicles. Employees will lose
time or pay for no more than six of those days, through their
choice of either vacation time or unpaid time off.

Honda has more than 35,000 workers at plants in Ohio, Alabama
and Georgia.

A company spokesman won't disclose the size of the paycuts but
says Honda executives will get the largest.

Honda's U.S. sales are down by about a-third for the first two
months of the year and it's been aggressively cutting production to
lower inventories of unsold cars.

Honda says it's trying to avoid layoffs, which are extremely
rare at Japanese firms in keeping with a tradition of lifetime
employment.


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