Delphi posts $2.3B loss in Q2
The current year result reflects $1.9 billion in charges against pension and retiree benefits and a UAW worker buyout program, leaving operating losses somewhat higher than last year at around $400 million. Revenues were unchanged at $7 billion, with General Motors sales accounting for 44 percent of the total.
Automotive News reports that Delphi is heading back into court on Thursday for a hearing on its request to cancel its current labor contracts.
[Sources: Reuters, Automotive News]
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