Delphi proposal would almost halve pay, push older workers to retire

[Omaha Steve]

Source: USA Today

Delphi proposal would almost halve pay, push older workers to retire

By Sharon Silke Carty
USA TODAY

DETROIT — Leaders of the United Auto Workers union have a tough job this week: Persuade about 17,000 workers at Delphi plants to sign off on an agreement that will shut plants and reduce wages.

Delphi, the big auto parts supplier that filed for bankruptcy court protection in October 2005, set drastic wage cuts as one of its goals before emerging from bankruptcy. It needs help from General Motors, its biggest customer and former owner, to soften the blow for workers. GM would pay some UAW workers three annual installments of $35,000, a total of $105,000, to offset wage reductions.

The proposal also includes incentives to get older, higher-paid workers to retire.

The deal, if approved by bankruptcy court, would end nearly two years of divisive negotiations between the union and Delphi. UAW President Ron Gettelfinger has said he believes Delphi used the cover of bankruptcy court to dismantle labor contracts. The union and Delphi declined to offer details until the union membership learns more through sessions at plants throughout the week.

Read more: https://privatenet.aflcio.org/bargaining@work/newsfeed.cfm?Action=UserDisplayFullDocument&orgId=272&topicId=16162&docId=l:631984953

[Delphinus]

1. I can't get in to read that ...

is there another link to the story? Thanks.

[Omaha Steve]

3. OOPS! My fault link

http://www.usatoday.com/printedition/money/20070626/delphi26.art.htm

Delphi proposal would almost halve pay, push older workers to retire

[aquart]

2. What cut is the CEO taking?