Delphi plan calls for keeping four UAW plants

[Eugene]

Source: Reuters

Delphi plan calls for keeping four UAW plants

Mon Jun 25, 5:56 AM ET

NEW YORK (Reuters) - Bankrupt auto parts maker Delphi Corp.
(DPHIQ.PK) will retain and operate four plants under a tentative
agreement with the United Auto Workers, according to a
document posted on a Web site run by union members.

Delphi would hold another four sites for divestiture as ongoing
businesses and would wind down or consolidate 10 plants,
according to the memorandum of understanding posted on
www.SoldiersofSolidarity.com.

Delphi's agreement with the UAW and former parent General
Motors Corp. (NYSE:GM) also calls for cutting starting wages
for new workers to $14 per hour, as well as one-time "buy-down"
payments to existing workers of up to $105,000 in exchange for
accepting lower initial wages of $14.50 to $18.50 an hour.

Workers at Delphi currently earn about $27 per hour.

-snip-

Read more: http://news.yahoo.com/s/nm/20070625/bs_nm/delphi_uaw_dc