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Last Updated: Monday, 6 August 2007, 15:53 GMT 16:53 UK
Delphi closer to new union deals
Delphi HQ
Delphi hopes to emerge from bankruptcy before year end
US car parts firm Delphi says it has moved towards new workplace and pay contracts with a number of unions.

They are International Association of Machinists, International Brotherhood of Electrical Workers and International Union of Operating Engineers.

The deals, subject to union vote, are part of Delphi's bankruptcy exit plan.

A pact was made with the 2,000-strong International Union of Electrical Workers-Communication Workers on Sunday on workforce change, pay and pensions.

"This series of tentative labour agreements demonstrates Delphi's continued commitment to achieving a consensual resolution with all parties in its Chapter 11 cases," said John Sheehan, Delphi's chief restructuring officer.

The IUE-CWA's committee has unanimously recommended that its members give the proposal the go-ahead later this month.

Delphi earlier struck a deal with its largest union, the United Auto Workers.

The firm filed for Chapter 11 US bankruptcy protection in 2005 after accumulating huge losses following its separation from General Motors in 1999.

Like other car firms, Delphi has suffered in the wake of cheaper competition from Asia.

It hopes to emerge from bankruptcy before the year is over. Last week investors injected $2.55bn (�1.24bn) into the firm.

Issues agreed in the latest union settlement include "an array of choices ranging from retirement options to buyouts and buy downs that allow our members to make the best decision for themselves and their families," said Jim Clark, president of the IUE-CWA.




SEE ALSO
Investment bank fights for Delphi
21 Dec 06 |  Business
US Delphi to get cash injection
18 Dec 06 |  Business
Staff costs widen Delphi losses
15 Aug 06 |  Business
Delphi reaches deal with workers
09 Jun 06 |  Business
Delphi workers back strike action
16 May 06 |  Business
Early strike 'better' for Delphi
11 May 06 |  Business

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