Wednesday, March 22, 2006
Delphi, GM, UAW Reach Agreement on Buyout
Yahoo News
General Motors Corp. and the auto parts supplier it once owned, Delphi Corp., announced deals Wednesday with the United Auto Workers that would offer buyouts to 13,000 hourly Delphi employees and up to 100,000 hourly GM workers represented by the United Auto Workers.
GM workers will be eligible for payouts of between $35,000 and $140,000 depending on their years of service. At Delphi, up to 5,000 workers will be eligible to return to GM, Delphi's former parent, while 13,000 U.S. hourly workers will be eligible for a lump sum payment of up to $35,000 to retire.
General Motors Corp. and the auto parts supplier it once owned, Delphi Corp., announced deals Wednesday with the United Auto Workers that would offer buyouts to 13,000 hourly Delphi employees and up to 100,000 hourly GM workers represented by the United Auto Workers.
GM workers will be eligible for payouts of between $35,000 and $140,000 depending on their years of service. At Delphi, up to 5,000 workers will be eligible to return to GM, Delphi's former parent, while 13,000 U.S. hourly workers will be eligible for a lump sum payment of up to $35,000 to retire.
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I wish I knew the answer to that question. In fact, I wish the mainstream media would do enough research that one could formulate at least a moderately reasoned opinion. But mostly these days we get sound bites rather than real data. What is the value to Delphi of the modified union agreement? Who knows? How badly is Delphi off at the moment? Who knows? What is the value of the other measures Delphi wants to take - plant closures, layoffs of white-collar staff? Who knows?
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