Delphi has reached a buyout agreement with the United Auto Workers and General Motors. Announced Friday, the deal will extend buyout offers to each and every hourly worker, giving all UAW-represented employees (around 22,000 out of 31,000 Delphi employees)  a chance to bail with a safety net.

The move is seen as a very positive step in talks looking to avoid a strike. Under the agreement, General Motors will continue to pay for part of the compensation packages, which will put them on the hook for part of the $70,000-$140,000 per payout accepted.

More details available by clicking on the link.

[Sources: Associated Press via San Jose Mercury News; CNN]

I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.

    • 1 Second Ago
  • From Our Partners

    You May Like
    Links by Zergnet
    Share This Photo X