Dana Corp.

New York: (Mar-12-07) In an effort to emerge from bankruptcy as a competitive, viable company, Dana Corp., the Toledo, OH based auto parts maker, sought to terminate labor contracts and retirement benefits for employees. The company claimed that cost cuts are an essential part of its exit from bankruptcy protection. A settlement reached with two unions will affect about 6,300 non-union retired workers. Adeal was reached with a third union, the International Association of Machinists (IAM) and Aerospace Workers. The IAM agreement includes a new collective bargaining agreement, the termination of retiree benefits for its members as of July 1 and a settlement payment by Dana of $2.25 million. [SOUTH BEND TRIBUNE: DANA EMPLOYEES]

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Published on Mar-12-07