Delphi Reaches a Buyout Deal with UAW and GM

June 9, 2006

Delphi Reaches Deal With United Auto Workers, General Motors to Offer Buyouts to Hourly Workers

DETROIT (AP) -- Delphi Corp. said Friday it has reached a deal with the United Auto Workers and General Motors Corp. to offer buyouts to hourly employees who aren't eligible for early retirement.

The automotive parts supplier said it also was expanding its previously announced early retirement incentives to include more workers.
Delphi is GM's largest supplier and has sought Chapter 11 bankruptcy protection. GM is helping to fund the buyouts, Delphi said.

via Yahoo HERE

6/09/2006 04:26:00 PM

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