- Feb 7, 2009
Delphi seeking court's permission to end retiree health care
Sounds pretty bad, no? It gets worse. The supplier has filed paperwork with the court asking for permission to end health care benefits for retirees that had been salaried employees. This move could be made as early as April, after which current Delphi employees would no longer be eligible for health care benefits after retiring. If approved, Delphi says this move would save $70 million per year and free up over a billion dollars in liabilities.
[Source: Detroit Free Press]