Delphi reaches tentative deals with four unions
By Our Corporate Bureau | 07 Aug 2007
Beleaguered auto components maker Delphi Corp, that was spun-off from General Motors, today announced having reached a tentative agreement on new contracts with four more unions as part of its reorganisation efforts to stave-off bankruptcy.
The agreements are with the International Union of Electrical Workers-Communications Workers of America, the International Association of Machinists, the International Brotherhood of Electrical Workers, and the International Union of Operating Engineers.
Delphi said that the agreements covered work-force transition, pension and other issues, details of which it has held back until the union members vote on them. The agreements include the consent of its former parent GM and have to have the approval of the union members and the US bankruptcy court's approval.
