LAWSUITS NEWS & LEGAL INFORMATION
Delphi Corp.
New York, NY: (Aug-30-07) The United Steelworkers Union, which represented workers at Delphi Corp.'s Home Avenue and Vandalia plants, reached a settlement with the struggling auto parts maker, moving it one step closer to bankruptcy reorganization. The company, based in Troy, MI, said in a filing with the court that the Home Avenue plant may be sold or closed. It also raised the prospect of operating the plant under contract arrangement with an unidentified buyer after Dec. 31, 2007.
As part of the settlement, an attrition program for eligible Home Avenue workers will offer $35,000 for normal or early voluntary retirement retroactive to Oct. 1, 2005. Workers at Home Avenue and in Vandalia with 10 or more years of service as of Jan. 1 may be offered a buyout of $140,000, according to the filing. Workers with three to 10 years of service may be eligible for a $70,000 buyout, while those with less then three years may be eligible for a $40,000 buyout. The United Steelworkers union was the last to come to terms with Delphi. Earlier, the bankruptcy court approved agreements with four others: the IUE-CWA, the International Brotherhood of Electrical Workers, the International Association of Machinists and the International Union of Operating Engineers. [DAYTON DAILY NEWS: RETROACTIVE RETIREMENT]
Published on Sep-1-07
As part of the settlement, an attrition program for eligible Home Avenue workers will offer $35,000 for normal or early voluntary retirement retroactive to Oct. 1, 2005. Workers at Home Avenue and in Vandalia with 10 or more years of service as of Jan. 1 may be offered a buyout of $140,000, according to the filing. Workers with three to 10 years of service may be eligible for a $70,000 buyout, while those with less then three years may be eligible for a $40,000 buyout. The United Steelworkers union was the last to come to terms with Delphi. Earlier, the bankruptcy court approved agreements with four others: the IUE-CWA, the International Brotherhood of Electrical Workers, the International Association of Machinists and the International Union of Operating Engineers. [DAYTON DAILY NEWS: RETROACTIVE RETIREMENT]
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