Delphi announces deal with IUE-CWA, GM on buyouts
06/18/2006
Delphi announces deal with IUE-CWA, GM on buyouts
By the Associated Press
DETROIT Delphi Corp. has reached an agreement with its second-largest union and General Motors Corp. to offer buyouts to hourly workers that is similar to an earlier deal with the United Auto Workers union.
The auto parts supplier announced the agreement with the International Union of Electronic Workers-Communications Workers of America and GM, Delphi's former parent and its largest customer, late Friday.
Delphi employs about 5,700 workers in five plants in the Dayton area and 13,000 workers in Ohio overall. The IUE-CWA Conference Board represents eight Delphi plants nationwide, including those in Moraine and Kettering
Delphi filed for Chapter 11 bankruptcy protection in October. The buyouts are part of an effort to provide early retirement incentives as the company seeks to cut its work force.
"We continue to be focused on the transformation of Delphi and this attrition plan provides a stronger framework to position our successful emergence from Chapter 11," Delphi President and Chief Operating Officer Rodney O'Neal said.
GM has agreed to provide financial support under the proposed plan, which is subject to bankruptcy court approval, Delphi said. GM spokeswoman Toni Simonetti said Saturday that the automaker will split the cost with Delphi.
Representatives of Delphi and the IUE-CWA did not immediately return calls seeking additional comment Saturday.
About 8,000 hourly workers represented by the IUE-CWA are eligible to participate. Some may be offered a lump sum payment of $35,000 to retire, Delphi said, while eligible employees may decide to accept buyout packages ranging from $40,000 to $140,000.
The plan also permits the transition of up to 3,200 Delphi workers represented by the IUE-CWA to GM for retirement purposes, Delphi said.
Earlier this month, Delphi announced a deal with the UAW and GM to offer buyouts to all hourly employees. Those buyouts greatly expand early retirement incentives announced in March and meant that all UAW-represented employees will be offered something if they want to leave the company.
The UAW — the largest of Delphi's six unions — represents about 22,000 of Delphi's 31,000 workers. At the time, Delphi said it was negotiating with other unions to offer similar packages for their members.
Staff writer Stephanie Irwin contributed to this report.
Copyright ©2006 Cox Ohio Publishing, Dayton, Ohio, USA. All rights reserved.
By using DaytonDailyNews.com, you accept the terms of our visitor agreement and privacy policy. You may wish to note our other business policies.
Delphi announces deal with IUE-CWA, GM on buyouts
By the Associated Press
DETROIT Delphi Corp. has reached an agreement with its second-largest union and General Motors Corp. to offer buyouts to hourly workers that is similar to an earlier deal with the United Auto Workers union.
The auto parts supplier announced the agreement with the International Union of Electronic Workers-Communications Workers of America and GM, Delphi's former parent and its largest customer, late Friday.
Delphi employs about 5,700 workers in five plants in the Dayton area and 13,000 workers in Ohio overall. The IUE-CWA Conference Board represents eight Delphi plants nationwide, including those in Moraine and Kettering
Delphi filed for Chapter 11 bankruptcy protection in October. The buyouts are part of an effort to provide early retirement incentives as the company seeks to cut its work force.
"We continue to be focused on the transformation of Delphi and this attrition plan provides a stronger framework to position our successful emergence from Chapter 11," Delphi President and Chief Operating Officer Rodney O'Neal said.
GM has agreed to provide financial support under the proposed plan, which is subject to bankruptcy court approval, Delphi said. GM spokeswoman Toni Simonetti said Saturday that the automaker will split the cost with Delphi.
Representatives of Delphi and the IUE-CWA did not immediately return calls seeking additional comment Saturday.
About 8,000 hourly workers represented by the IUE-CWA are eligible to participate. Some may be offered a lump sum payment of $35,000 to retire, Delphi said, while eligible employees may decide to accept buyout packages ranging from $40,000 to $140,000.
The plan also permits the transition of up to 3,200 Delphi workers represented by the IUE-CWA to GM for retirement purposes, Delphi said.
Earlier this month, Delphi announced a deal with the UAW and GM to offer buyouts to all hourly employees. Those buyouts greatly expand early retirement incentives announced in March and meant that all UAW-represented employees will be offered something if they want to leave the company.
The UAW — the largest of Delphi's six unions — represents about 22,000 of Delphi's 31,000 workers. At the time, Delphi said it was negotiating with other unions to offer similar packages for their members.
Staff writer Stephanie Irwin contributed to this report.
Copyright ©2006 Cox Ohio Publishing, Dayton, Ohio, USA. All rights reserved.
By using DaytonDailyNews.com, you accept the terms of our visitor agreement and privacy policy. You may wish to note our other business policies.
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