Visteon to offer buyouts to U.S. salaried workers

CHICAGO, Nov 12, 2004; Reuters reported that Visteon Corp. said on Friday it will offer buyouts to an unspecified number of its 8,300 U.S. salaried work force to cut costs at the money-losing auto parts maker.

"We've not indicated a target number," Visteon spokesman Jim Fisher said of the total the company hopes will accept the buyout offer. The employees were told of the impending offer via e-mail on Thursday.

If not enough buyouts are taken, the company will explore other options, including layoffs, he added.

Visteon, based in Van Buren Township, Michigan, will make the offer to salaried workers in its U.S. work force who were hired before 2003, which is most of the total, Fisher said.

More details of the offer will be provided to employees next week, Fisher said.